お知らせ

We at Mitsui Fudosan Co., Ltd. (hereafter “Mitsui Fudosan”) hereby announce our investment in Pragtech Inc. (headquartered in Chiyoda, Tokyo; hereafter “Pragtech”). The investment has been made through our corporate venture capital fund 31VENTURES Global Innovation Fund II.

Pragtech, a startup dedicated to its mission of “Driving society through parking,” is focused on the development and provision of “Lott,” a next-generation parking service. Pragtech hopes to leverage technology to free users from all the inconveniences associated with car travel and parking, while fundamentally improving the cost structure and profitability of parking management operators. This initiative not only promotes digitalized and cashless parking experiences but also addresses the broader issues and challenges faced by Japanese industries and society, such as the decline in the working-age population due to the low birthrate and an aging society, adapting to next-generation mobility, and revitalizing local economies.

Mitsui Fudosan shares an affinity with the stated mission of Pragtech, “Driving society through parking,” and decided to invest because Pragtech possesses the expertise, technical capabilities, and talented management team needed to construct next-generation parking systems, and because of Pragtech’s synergies with the Mitsui Fudosan Group.

Through this investment, Mitsui Fudosan and Pragtech will accelerate the development cycle based on the support and know-how possessed by the Mitsui Fudosan Group’s Mitsui Fudosan Realty Co., Ltd., (below, “Mitsui Fudosan Realty”) with regard to parking lot operation. The two companies will promote the implementation of proof-of-concept trials and testing of “Lott” together with a number of parking lot operators in Japan. Moreover, they plan to strengthen partnerships with a variety of vendors who will construct the “Lott” ecosystem.

In collaborating with Pragtech, we will promote innovation in the parking lot business, with the entire Mitsui Fudosan Group working as one to achieve digital transformation of parking lots that will resolve labor shortages and work to provide an unparalleled user experience.

■About Pragtech

・Name: Pragtech Inc.
・Location: Chiyoda-ku, Tokyo, Japan
・Representative: Toshitaka Funamoto
・Founded: August 2022    
・Business: Provision of the “Lott” parking system, which uses next-generation software
・URL: https://pragtech.jp/ (Only available in Japanese) 

■About 31VENTURES II

・Name：  31VENTURES Global Innovation Fund II
・General Partner： Global Brain Corporation
・Limited Partner： Mitsui Fudosan
・Fund Size： JPY 8.5 billion