[favy Funding Release] favy Completes Series D Second Close Funding from Sumitomo Life Insurance Company and i-cubed Ventures; Launches "favy Ads," a New Advertising Service Leveraging Store Visit Data

favy Co., Ltd. (Headquarters: Shinjuku, Tokyo; President & CEO: Takumi Takanashi) is pleased to announce that it has completed its Series D second close funding round. The funding was secured from SUMISEI INNOVATION FUND, a CVC fund operated by Sumitomo Life Insurance Company (President & Executive Officer: Yukinori Takada), and the i-cubed No. 1 Investment Limited Partnership fund, operated by i-cubed Ventures Co., Ltd. (Representative Partner: Shugo Yamagata).

Additionally, coinciding with the Series D second close, we are announcing "favy Ads," a new advertising product that leverages customer data from commercial facilities.

About the Investors

Company Name: Sumitomo Life Insurance Company Fund Name: SUMISEI INNOVATION FUND Head Office Location: 1-4-35 Shiromi, Chuo-ku, Osaka-shi, Osaka Representative: Yukinori Takada, President & Executive Officer Official Website: https://www.sumitomolife.co.jp/about/cvc/

Company Name: i-cubed Ventures Co., Ltd. Fund Name: i-cubed No. 1 Investment Limited Partnership Head Office Location: 4th Floor, Dai-1 Myojo Bldg., 4-1-37 Tenjin, Chuo-ku, Fukuoka-shi, Fukuoka Representative: Shugo Yamagata, Representative Partner Official Website: https://www.i3-ventures.com

About This Investment

In this funding round, our company's following strengths and high growth potential were highly evaluated:

Consistent Support System: The ability to provide consistent support from strategic design to implementation, deeply rooted in on-site operations such as store/facility management and tool/system development. Customer Nurturing Mechanism: A comprehensive mechanism that connects customer acquisition, membership enrollment, visit promotion, and continuous use, thereby creating fans and loyal customers. Execution Capabilities and Expertise: Execution capabilities in marketing operations, expertise in customer touchpoint design, and data utilization capabilities in real businesses.

"favy Ads": A New Service as Part of favy's Initiatives in the Store Business Domain

"favy Ads" is a new advertising product that utilizes store visit data held by favy.

Our company already visualizes in-store customer behavior such as visits and purchases, which was difficult to achieve with traditional web advertising, and provides highly cost-effective marketing solutions to advertisers based on this data.

While advertising in the OMO (Online Merges with Offline) domain has often relied on "estimation," we have been promoting the utilization of "confirmed" data by leveraging retail media and store visit data.

With "favy Ads," we further advance this data utilization. Advertisers can purchase ad space within mobile orders and are provided with an environment to deliver ads to target audiences outside websites (e.g., Meta, Google) using first-party (anonymous) data concerning visitors and orderers.

Through the provision of "favy Ads," we aim to create new value for advertisers and more effective customer acquisition methods for store operators, thereby establishing a new standard for data utilization in the food and retail sectors.

About favy Ads: https://favy.co.jp/favyads/business

Future Outlook

Leveraging this investment and capital and business alliance, our company will further accelerate business growth under strong partnerships with both companies.

favy has unique strengths in utilizing store visit data from commercial facilities, and with this funding and the launch of the new service, we will further solidify our position as a leading company in the retail media domain.

favy Company Profile

Company Name: favy Co., Ltd. Location: Ad Hoc Shinjuku Bldg. 4F, 3-15-11 Shinjuku, Shinjuku-ku, Tokyo Representative: Takumi Takanashi, President & CEO Established: July 2015 Business Activities: ・SaaS development and provision, such as mobile order and subscription systems ・RaaS business, such as the development and operation of shared food halls ・Web marketing and advertising operations etc. Official Website: https://favy.co.jp/