matsuri technologies, the Japanese company behind StayX, a software solution that converts single-use rooms into multiple-use rooms, has closed its US$8.65 Series D round from new and existing investors, including Vertex Ventures Southeast Asia and India.
The company plans to use the new capital to enhance its software offerings, increase the number of facilities, and invest in talent, accelerating StayX’s business growth and enhancing the development of a tourism-oriented country.
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In the near future, matsuri plans overseas expansion.
masturi was established in August 2016 in Shinjuku-ku, Tokyo, by CEO Keita Yoshida.
StayX maximises the value of unused space. A single space can be flexibly transformed to accommodate a variety of uses.
For example, a rental property that could only be rented out for two years can be transformed into a facility that can be operated on a one-night or one-month short-term rental basis.
Its software covers various business aspects, such as attracting customers via the Internet, real-time inventory management, price adjustments, and AI-based janitorial management, enabling unmanned facility operations.
StayX creates a new form of social infrastructure by using the power of software to solve labour shortages caused by a declining population and deliver necessary space to those who need it.
Nikhil Marwaha, Senior Executive Director, Vertex Ventures Southeast Asia & India shared: “matsuri technologies is an innovative company with a unique business model that meets B2B and B2C consumer needs, establishes longstanding relationships with supply chain partners, and is underpinned by a robust technology platform. By leveraging Vertex Ventures Southeast Asia and India’s deep network in SEA, we look forward to partnering with matsuri technologies to accelerate growth within Japan and the wider region.”
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Tourism in Japan is on track to recover to almost pre-pandemic levels as the number of inbound visitors increases significantly, reaching a total of 25 million in 2023. The tourism sector isn’t the only industry witnessing strong revival; the private accommodations space has been flourishing, too. Given these strong tailwinds, matsuri will utilise the newly acquired funds to enhance their software, increase the number of facilities, and strengthen recruitment to accelerate business growth and enhance the development of a tourism-oriented country.
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