Monthly Update, April 2022 (Tokyo)

May 10, 2022

1. Ripcord acquires Silicon Valley based LearningPal (Season 13), AI OCR solution provider

Ripcord, the world’s first robotic digitization and document intelligence company, announced its acquisition of LearningPal, an advanced machine learning-native Optical Character Recognition(OCR) and Document Understanding technology based in Silicon Valley. The acquisition furthers Ripcord’s broader objective of providing organizations with a frictionless and scalable document-to-data experience and accelerating their digital transformation. 

With the integration of LearningPal’s technology, Ripcord customers will see many benefits, including:

1) Best in class, enterprise scale native Japanese language extraction capabilities, plus ability to rapidly expand into other languages and markets.
2) Improved large format document processing, which typically requires extensive memory and computing and unique ML capabilities.

2. Synspective (Season 14) enters into contract for "demonstration project for expanding the use of small SAR satellite constellations" led by the Cabinet Office

In order to expand the full-scale use of SAR data in domestic ministries and agencies, the National Space Policy Secretariat of the Cabinet Office will lead a project to test small SAR satellite constellations in various administrative fields, and organize and evaluate their effectiveness, feasibility, and issues at an early stage. Furthermore, the project will conduct usage verification in the administrative field for potential usage needs, verify and evaluate effectiveness and feasibility, and sort out any issues that need improvement. Based on the results, we will identify the best approaches for full-scale use in each ministry of the Japanese government to promote future use expansion. 

The demonstration theme is eight fields in total including disaster response, infrastructure management, and energy. For the demonstration, we will utilize our small SAR satellite, StriX-α(currently in operation), StriX-β (successfully put into orbit in March this year), and StriX-1 (scheduled to be launched within the year). We are planning to capture land displacement caused by the river flooding due to heavy rain, earthquakes and landslides. We will also demonstrate evaluation and monitoring methods for various infrastructure, and demonstrate technical methods that contribute to the promotion of offshore wind energy over a wide-area and highly accurate wind measurement. After conducting use demonstrations in each ministry, we will evaluate their effects on improving operational efficiency and quality, and formulate a concrete plan for actual use.

3. Smartcity solution provider, Qlue (Season 13) secures private bridges round funding from ICMG

Qlue, the most comprehensive smart city ecosystem provider in Indonesia, has successfully closed a new funding round through a Private Bridges Rounds scheme with ICMG Co-Creation Funds Investment, part of the Japan-based ICMG Group. With this agreement, ICMG Group will be involved in developing Qlue's smart city solutions and businesses, particularly the comprehensive surveillance system solutions.

Founder and CEO of Qlue Rama Raditya said this funding round provides a strong foundation for the company to expand its business through diversifying its smart city solutions in Indonesia. The funding round also gives a positive signal that the technologies developed by Qlue have bright business prospects, in line with the recovery in global economic conditions.