UrbanX Technologies, a UTokyo IPC Portfolio Company, Becomes a Subsidiary of ZENRIN
PrintUTokyo Innovation Platform Co., Ltd. (Head office: Bunkyo-ku, Tokyo; President and CEO: Kosuke Ueda; hereinafter “UTokyo IPC”) announces that its portfolio company UrbanX Technologies, Inc. (Head office: Chuo-ku, Tokyo; CEO: Hiroya Maeda; hereinafter “UrbanX”) has become a subsidiary of ZENRIN CO., LTD. (Head office: Kitakyushu, Fukuoka; President and CEO: Michio Takegawa; hereinafter “ZENRIN”) following a transfer of shares.
UTokyo IPC first selected UrbanX as a recipient of its 3rd 1stRound accelerator program, supporting the company from its pre-incorporation phase with hands-on assistance in areas such as corporate registration and business development, including its collaboration with Mitsui Sumitomo Insurance. UTokyo IPC later invested in UrbanX as the lead investor in October 2020 and followed on in the Series A round in April 2022.
As a result of the recent transaction, all shares of UrbanX held by the AOI No.1 Fund (Accelerating Open Innovation 1 Investment Limited Partnership), managed by UTokyo IPC, have been transferred to ZENRIN.
https://www.zenrin.co.jp/information/public/250701.html （Japanese）
Comment from Hiroya Maeda, CEO, UrbanX Technologies Inc.
“UrbanX is embarking on a new chapter as part of the ZENRIN Group. Since our founding, we have worked toward our mission to ‘update urban infrastructure and enrich lives’ through services that leverage AI and geospatial technologies. I would like to sincerely thank our customers, partners, and investors who have supported us on this journey.
In particular, UTokyo IPC has provided exceptional hands-on support since before our incorporation—spanning recruitment, business development, and capital strategy—that helped lay the foundation for our company.
ZENRIN, Japan’s leading company in mapping and geolocation, brings world-class technology, reliability, and a strong social network, which we believe will enable us to deliver even greater value in the infrastructure domain. Together, we aim to tackle regional challenges and make meaningful contributions to society through the synergy of our products and ZENRIN’s assets.”
Comment from Takahiro Mizumoto, Partner and CIO of AOI 1 Fund, UTokyo IPC
“I am truly pleased to see UrbanX, our very first seed-stage investment, enter its next phase with such a strong partner as ZENRIN.
I first met Mr. Maeda in November 2019 via an inquiry to the 1stRound program. At the time, he had not yet founded the company—the only existing structure was a university-led consortium from the lab he belonged to.
Through 1stRound, UrbanX was incorporated, and we supported initiatives such as hiring key executives and adopting dashboard camera-based data collection in collaboration with Mitsui Sumitomo Insurance.
Following our investment via AOI 1, I continued to be involved as an external board member. As the company grew, I sensed it was entering a phase where deeper organizational support would be crucial.
UrbanX originated from the My City Report consortium established by the Sekimoto Lab at the University of Tokyo’s Center for Spatial Information Science, where Mr. Maeda studied. He went on to earn his doctorate after founding the company.
We believe UrbanX represents a new role model for startup growth through full engagement with university resources. Congratulations on this milestone, Mr. Maeda—and best wishes on your next challenge!”
About the AOI 1 Fund – Driving Open Innovation in Japan
The AOI No.1 Fund was established in 2020 to advance open innovation in and around the University of Tokyo. With a mission to foster and invest in ventures created through collaboration between academia and industry, the fund has supported the launch of new companies, corporate spin-outs, and pre-seed ventures in partnership with leading corporates across sectors.
UTokyo IPC will continue its efforts to accelerate innovation in Japan and globally by supporting startups that leverage academic research and by partnering with corporations and venture capital firms to build a robust innovation ecosystem.
About UrbanX Technologies Inc.
Established: April 7, 2020
Business: Real-time digital twin solutions for urban infrastructure, including road inspection and maintenance
Headquarters: 2F TCM Building, 2-5-1 Kyobashi, Chuo-ku, Tokyo
CEO: Hiroya Maeda
Website: https://www.urbanx-tech.com