matsuri technologies, the Japanese company behind StayX, a software solution that converts single-use rooms into multiple-use rooms, has successfully closed its Series D round, raising US$8.65 million from a mix of new and existing investors, including Vertex Ventures Southeast Asia and India.
The company’s primary focus with this new funding is to improve its software offerings, expand its facilities, and invest in talent to accelerate StayX’s business growth and contribute to the development of the tourism sector in Japan.
Also Read: ‘SEA needs to grow together and produce more quality unicorns’: Vertex Ventures’s Carmen Yuen
Looking ahead, matsuri is planning for overseas expansion in the near future.
Established in August 2016 in Shinjuku-ku, Tokyo, matsuri is led by CEO Keita Yoshida.
StayX is designed to optimize the utilization of underutilized spaces, allowing for flexible use for various purposes within a single room.
For instance, a property that was previously only available for long-term rentals can now be transformed into a short-term rental facility for just a night or a month.
Its software encompasses different aspects of business operations, including online customer acquisition, real-time inventory management, pricing strategies, and AI-driven facility management, enabling unmanned operations.
By leveraging software solutions, StayX addresses labor shortages due to population decline and provides essential spaces to those in need, thereby creating a new form of social infrastructure.
Nikhil Marwaha, Senior Executive Director at Vertex Ventures Southeast Asia & India, expressed excitement about partnering with matsuri technologies and leveraging Vertex’s network to facilitate growth within Japan and the broader region.
Also Read: Vertex Ventures SEA & India hits final close of Fund V at US$541M
With tourism in Japan recovering and private accommodations flourishing post-pandemic, matsuri aims to use the newly raised funds to enhance its software, expand its facilities, and bolster recruitment efforts to drive business growth and support Japan’s tourism industry development.
The original article, “Vertex Ventures invests in Japanese firm StayX that converts single-use rooms into multiple-use rooms,” was first published on e27.