Bitkey Raises Additional Funds from Government-Affiliated Fund JIC VGI, Bringing Total Funding to Over 39 Billion Yen

Bitkey Inc. (Headquarters: Chuo-ku, Tokyo; President & CEO: Masanori Hotsuki; hereinafter referred to as "Bitkey") is pleased to announce that it has secured an additional 4 billion yen in funding from the "JIC Venture Growth Fund No. 2 Investment Limited Partnership" operated by JIC Venture Growth Investments Co., Ltd. (Headquarters: Minato-ku, Tokyo; President & CEO: Hideki Yarimizu; hereinafter referred to as "JIC VGI"), a government-affiliated fund.

This brings Bitkey's total cumulative funding to over 39 billion yen since its founding in 2018.

*1: JIC VGI is a group company of the Innovation Network Corporation of Japan (an authorized corporation established under the Industrial Competitiveness Enhancement Act) and aims to promote innovation in Japan and contribute to enhancing international competitiveness through venture and growth investments.

*2: Bitkey Raises Funds from Government-Affiliated Fund JIC VGI, Bringing Total Funding to Over 30 Billion Yen (https://bitkey.co.jp/newsroom/20241101/)

*3: Total amount raised through private placement of new shares and loans from financial institutions (excluding refinanced loans).

Purpose

With the mission and vision of "Connecting. People can be freer," Bitkey develops the connect platforms "homehub" and "workhub," leveraging its strengths in ID authentication and authorization technology. Through a unique approach that seamlessly integrates "hardware" such as smart locks with "software" such as systems and services, Bitkey has achieved numerous implementations in diverse spaces including condominiums, offices, airports, government buildings, and logistics facilities. These initiatives not only optimize space efficiency but also contribute to the realization of diverse and fulfilling lifestyles and work styles for individuals. The funds raised will be used for the development of new products and services to further expand the platform. Additionally, the funds will be utilized flexibly for M&A investments to accelerate non-continuous growth.

Background and Features of This Financing

Bitkey aims to maximize value for its stakeholders through its platform and has been promoting alliances with various partner companies. Furthermore, Bitkey has achieved non-continuous growth through initiatives such as the subsidiary acquisition of Palette Cloud Inc., a developer of resident management systems, in 2024 (to be merged in 2026), and the partial acquisition of the smart lock business from Sony Network Communications Inc. in 2025. Recently, the market environment is undergoing a significant transition with the Tokyo Stock Exchange's review of the listing maintenance standards for the Growth Market. Bitkey views this environmental change as an opportunity and plans to further accelerate M&A that enables sustainable growth for both buyers and sellers. On the other hand, funding for such growth can often be substantial, posing a challenge of diluting existing shares. Therefore, in this funding round, with the cooperation of JIC VGI, which also invested in 2024, we have partially utilized "mezzanine finance," which is positioned between debt and equity. This approach suppresses the dilution of existing shares and optimizes capital efficiency.

Comment from Mr. Reo Nakaya, JIC Venture Growth Investments Co., Ltd.

Bitkey has steadily grown by building strong relationships with diverse stakeholders across industries and sectors through solving a wide range of issues and transforming processes in real estate-related businesses, including places for "living" and "working." In addition to the steady growth expected in its existing business, Bitkey is actively promoting new service and product development in related areas. We recognize that strategic alliances with enterprise companies and others, which highly value these initiatives, are steadily progressing.

Furthermore, the company's efforts are not limited to in-house development; it also aims for non-continuous growth through M&A, capitalizing on market changes and growth opportunities arising from the Tokyo Stock Exchange's review of listing maintenance standards for the Growth Market. Based on our evaluation of these initiatives, we have decided to make this additional investment.

In this investment, focusing on the company's business progress and fund utilization for M&A, we have, for the first time, utilized mezzanine finance as part of our investment, from the perspective of optimizing the company's capital efficiency and expanding financing options for startups.

List of Investors and Lenders

The following are the investors and lenders to date. Company names or vehicle names that can be publicly disclosed are listed in Japanese alphabetical order.

HANKYU HANSHIN REAL ESTATE CO., LTD. Corporate Venture Fund "HHP Co-creation Fund No. 1 Investment Limited Partnership"

"MF-GB Investment Limited Partnership," a corporate venture capital fund invested in by Mitsui Fudosan Co., Ltd. and operated by Global Brain Corporation

Osaka Gas Co., Ltd.

Obayashi Corporation

Okamura Corporation

Goodpatch Inc.

"Global Brain Fund No. 7 Investment Limited Partnership" operated by Global Brain Corporation

Goldman Sachs

"Cybernics Excellence Japan No. 1 Investment Limited Partnership" managed by CEJ Capital Co., Ltd., a subsidiary of CYBERDYNE Inc.

Sankei Building Co., Ltd.

JIC Venture Growth Fund No. 2 Investment Limited Partnership

SHIFT Inc.

"Shinsei Venture Partners No. 1 Investment Limited Partnership," a fund involved in the operation by Shinsei Corporate Investment Ltd.

LLC Spotlight, a joint venture between Nippon Television Network Corporation and Hakuhodo Inc.

"SuMi TRUST Innovation Investment Limited Partnership," invested in by Sumitomo Mitsui Trust Bank, Limited and operated by SBI Investment Co., Ltd.

Sony Network Communications Inc.

Daikin Industries, Ltd.

TsunaguNet Communications Inc.

"Tecmira Fund No. 1 Investment Limited Partnership," in which Tecmira Holdings Inc. is a limited partner

Tokyo Tatemono Co., Ltd.

Nittetsu Kowa Real Estate Co., Ltd.

Buffalo Inc.

Panasonic Holdings Corporation

Prime Life Technologies Corporation

Full Time System Co., Ltd.

"Mercuia BizTech Investment Limited Partnership," a jointly formed fund with ITOCHU Corporation, operated by Mercuria Investment Co., Ltd.

Mizuho Bank, Ltd.

Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Trust Bank, Limited

"Mirai Sosei No. 2 Fund," operated by SPARX Group Co., Ltd. and invested in by Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, etc.

Mori Trust Co., Ltd.

Morgan Stanley MUFG Securities Co., Ltd.

LAKILE Co., Ltd.

Looop Inc.

"Logistics Innovation Fund Investment Limited Partnership," operated by Spiral Innovation Partners Inc. with Seino Holdings Co., Ltd. as an anchor LP

About Bitkey

With the mission and vision of "Connecting. People can be freer," Bitkey Inc. develops the connect platforms "homehub" and "workhub." "homehub" for residences collaborates with a wide range of products from other companies and external services such as delivery and home services, providing a convenient and comfortable life for each individual. "workhub" for offices and buildings offers all necessary functions for the workplace, including search and reservation of workspaces, access control, and visitor reception, all in one package. By integrating with business systems used by companies and building facilities such as security gates, it provides a seamless workplace experience.

Recruitment Activities

Bitkey is looking for individuals who can strongly drive our business forward. You can check our open positions on Bitkey's "Career" page. Please feel free to apply for a casual interview.

https://bitkey.co.jp/careers/

【Company Overview: Bitkey Inc.】

Company Name: Bitkey Inc.

Location: Tokyo Square Garden 9F, 3-1-1 Kyobashi, Chuo-ku, Tokyo

Representative: Masanori Hotsuki, President & CEO

Established: May 16, 2018

Capital: 50,000,000 yen (as of May 28, 2026)

Business Overview: Planning, development, and operation of "bitkey Platform" for ID authentication and authorization

Planning, development, and sales of connect platforms "homehub" and "workhub"

Planning, development, and sales of hardware products such as smart locks

* "Bitkey," "homehub," "workhub," and "bitkey platform" are registered trademarks of Bitkey Inc.