Funding to enhance StayX platform and expand tourism infrastructure

matsuri technologies Inc.,the provider behind StayX, a solution that converts single-use rooms into multi-use spaces, has successfully closed its Series D funding round, securing JPY 1.34 billion (approximately USD 8.65 million). This round welcomed new investors, including Vertex Ventures Southeast Asia and India (VVSEAI), alongside other notable Japanese investors.

Headquartered in Shinjuku-ku, Tokyo, matsuri technologies is led by CEO and Founder Keita Yoshida. With the latest injection of funds, the company plans to enhance its software offerings, expand the number of facilities, and invest in talent. These initiatives aim to accelerate the growth of StayX and contribute to Japan’s tourism-oriented development.

Japan’s tourism industry is experiencing a robust recovery, with inbound visitors reaching 25 million in 2023, nearing pre-pandemic levels. The industry-wide revival goes beyond tourism, also benefiting the private accommodation sector. matsuri technologies plans to leverage these conditions by enhancing its software, expanding facilities, and strengthening recruitment efforts.

The new funding round brings financial resources as well as strategic partnerships. Nikhil Marwaha, Senior Executive Director of VVSEAI, expressed his enthusiasm by saying, “We are pleased to announce our investment into matsuri technologies Inc, an innovative company operating in Japan’s rapidly growing tourism industry. matsuri technologies Inc meets both B2B and B2C consumer needs with its unique business model and robust technology platform. We look forward to partnering with matsuri technologies to accelerate growth within Japan and the wider region.”

matsuri technologies also plans to use the new funds for overseas expansion, positioning StayX as a global solution for optimising unused spaces. The company is actively seeking talented individuals to fill various roles, aligning with its vision of becoming the Future Real Estate Platform.