{"id":529,"date":"2024-09-03T13:55:22","date_gmt":"2024-09-03T04:55:22","guid":{"rendered":"https:\/\/www.31ventures.jp\/en\/news\/?p=529"},"modified":"2024-09-03T13:55:23","modified_gmt":"2024-09-03T04:55:23","slug":"31ventures-global-innovation-fund-ii-has-invested-in-pragtech-inc-a-company-that-develops-and-provides-the-next-generation-parking-service-lott-as-the-lead-investor","status":"publish","type":"post","link":"https:\/\/www.31ventures.jp\/en\/news\/?p=529","title":{"rendered":"31VENTURES Global Innovation Fund II has invested in Pragtech Inc.,a company that develops and provides the next-generation parking service \u201cLott\u201d as the lead investor"},"content":{"rendered":"\n

We at Mitsui Fudosan Co., Ltd. (hereafter \u201cMitsui Fudosan\u201d) hereby announce our investment in Pragtech Inc. (headquartered in Chiyoda, Tokyo; hereafter \u201cPragtech\u201d). The investment has been made through our corporate venture capital fund 31VENTURES Global Innovation Fund II.<\/p>\n\n\n\n

Pragtech, a startup dedicated to its mission of \u201cDriving society through parking,\u201d is focused on the development and provision of \u201cLott,\u201d 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.<\/p>\n\n\n\n

Mitsui Fudosan shares an affinity with the stated mission of Pragtech, \u201cDriving society through parking,\u201d 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\u2019s synergies with the Mitsui Fudosan Group.<\/p>\n\n\n\n

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\u2019s Mitsui Fudosan Realty Co., Ltd., (below, \u201cMitsui Fudosan Realty\u201d) with regard to parking lot operation. The two companies will promote the implementation of proof-of-concept trials and testing of \u201cLott\u201d 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 \u201cLott\u201d ecosystem.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

\u25a0About Pragtech<\/strong><\/p>\n\n\n\n

\u30fbName: Pragtech Inc.
\u30fbLocation: Chiyoda-ku, Tokyo, Japan
\u30fbRepresentative: Toshitaka Funamoto
\u30fbFounded: August 2022\u00a0\u00a0\u00a0\u00a0
\u30fbBusiness: Provision of the \u201cLott\u201d parking system, which uses next-generation software
\u30fbURL: https:\/\/pragtech.jp\/<\/a> (Only available in Japanese)\u00a0<\/p>\n\n\n\n

\u25a0About 31VENTURES II<\/strong><\/p>\n\n\n\n

\u30fbName\uff1a\u00a0 31VENTURES Global Innovation Fund II
\u30fbGeneral Partner\uff1a Global Brain Corporation
\u30fbLimited Partner\uff1a Mitsui Fudosan
\u30fbFund Size\uff1a JPY 8.5 billion<\/p>\n","protected":false},"excerpt":{"rendered":"

We at Mitsui Fudosan Co., Ltd. (hereafter \u201cMitsui Fudosan\u201d) hereby announce our investment in Pragtech Inc. 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