Monstar Lab, a Japanese software development firm that has a local partner, has announced that it has raised $6.3 million (about P315 million) in a new round of equity financing.
Providing the funding are lead investors YJ Capital, Shinsei Corporate Investment Limited, San-In Chuo Television Broadcasting Co., Fenox Venture Capital, Tanabe Corporation, together with further investments from existing shareholders.
Monstar Lab is a producer of consumer and enterprise mobile apps, business software, and IoT and AR/VR applications, each customized for particular client use cases.
The company already has a strong presence in Japan, Singapore, China, the Philippines, Vietnam and Bangladesh and plans to leverage the new funding to continue its global expansion by entering into the European and North American markets.
Just last week, the company announced a major investment and partnership with Nodes Group ApS, a Danish mobile application developer with presence in both the Danish and UK markets.
In April last year, Monstar Lab announced its partnership with local software firm Ideyatech as part of its strategy of expanding its development bases in Asia. This partnership has resulted in the creation of Monstar Lab Philippines.
The company believes that the mobile and business application development space is only going to grow further, and looks forward to expanding its premium service offerings to customers throughout Asia, Europe, and the Americas.
Under the concept of ?Global IT Sourcing?, Monstar Lab leverages its world-wide network of own development teams to offer clients the most suitable location and the most appropriate team for designing and building their products.
