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CAST Raises 40 Million Yen from Real Tech Fund and Higin Capital


CAST has raised 40 million yen from the Real Tech Fund and Higin Venture Fund through the issuance of J-KISS-type stock acquisition rights. With this financing, CAST will accelerate its efforts to secure a test site and develop technologies to realize the elimination of hard labor in the manufacturing industry by using its unique sensor technology, such as a pipe wall thinning monitoring system for factories that can be left on at all times, even in high-temperature and confined spaces.





■Company Overview


At factory sites, the number of leakage and explosion accidents caused by inadequate monitoring is increasing every year due to aging factories and a shortage of inspectors caused by aging workers. In addition, inspections are mainly carried out once every six months to once a year by human inspectors with inspection equipment in harsh environments such as high temperatures, high places, and confined spaces. CAST is a Kumamoto University-approved venture that aims to solve problems in the manufacturing industry with its unique thin piezoelectric sensor with heat resistance and flexibility, which utilizes Kumamoto University's "sol-gel composite piezoelectric device" technology, a result of Kumamoto University research. CAST's ultrasonic sensors can be installed in any location and can be "left on" to monitor piping, thereby eliminating the labor-intensive task of manufacturers, who have to have a sensor in their hands to inspect piping in dangerous locations.





■Main Use of Proceeds


This financing is a joint investment by the Realtech Fund*1 managed by Realtech Holdings Corporation (Location: Sumida-ku, Tokyo; Representatives: Yukihiro Maru and Akihiko Nagata) and the Higin Venture Fund*2 managed by Higin Capital Corporation (Location: Kumamoto City, Kumamoto Prefecture; President: Tomohiro Miyazaki). CAST is a joint venture between the Real Tech Fund*1 and Higin Venture Fund*2. CAST has completed the product design of CAST's proprietary sensor and is aiming for mass production and sales promotion. With the funds raised through this financing, CAST will secure a site for a demonstration of the continuous monitoring using CAST sensors, and will develop, install, and operate a monitoring system. 1 Official name: Real Tech Fund No. 3 Investment Limited Partnership (a.k.a. "Glocal Deep Tech Fund") *2 Official name: Higin Venture Investment Limited Partnership





■About CAST


Location: 2-39-1 Kurokami, Chuo-ku, Kumamoto City, Kumamoto Prefecture (inside Kumamoto University) Representative Director: Kei Nakatsuma Business: Research, development, manufacturing, and sales of sensors, peripheral devices, and software




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