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Monday, December 4, 2023

Seibi," an on-site car maintenance and repair company, raises 840 million yen in funding.

Seibii, a developer and operator of "Seibii," a car maintenance and repair service, raised a total of 840 million yen through a third-party allotment of new shares with Globis Capital Partners as the lead investor, Coral Capital, and angel investor Nobuhiro Ariyasu as the underwriter. The funds raised were used to fund the company's engineering and other activities. The funds raised will be used for recruiting activities to strengthen the company's organization, particularly engineers, and for marketing to increase awareness of the service.

Purpose and Background of Fundraising

Seibii offers "Seibii," an on-site car maintenance, repair, parts installation, and other services that can be easily requested via smartphone or online. Seibii" promotes the improvement of UX (user experience) for car owners by providing online request and on-site services, while proposing a free work style for mechanics as gig workers.

The investment stage of the fundraising was Series A. The fundraising was conducted to promote active investment in marketing to increase awareness of Seibii's services and hiring engineers to strengthen its technology, which is the core of Seibii's business growth.

In the future, the company will accelerate the DX (digital transformation) of the entire 19.14 trillion yen (in 2020)* automotive aftermarket industry, including adjacent industries to the auto maintenance industry, by leveraging the knowledge gained from its own service operations and providing some of its products to external parties.

*Source: Yano Research Institute Ltd., "Research on the Automotive Aftermarket (2021)," released April 28, 2021.
Note: Market size is the sum of five businesses: used cars, automobile leasing, automobile parts and accessories, automobile maintenance, and other related services.

Funding Summary

Amount raised: approx. 840 million yen (previous total: 1.07 billion yen)
Procurement method: Capital increase through third-party allotment
Underwriter: ・Globis Capital Partners Co.
       Coral Capital Inc.
       Nobuhiro Ariyasu, Angel Investor

Comments from each investor

◎: new investors, ○: additional investors, ●: previous investors

◎ Globis Capital Partners, Inc.
Minoru Konno, Representative Partner / Tatsuya Nakamura, Senior Associate

I vividly remember Mr. Sagawa's strong determination to face the huge industry when we first met. I clearly remember Mr. Sagawa's comment at our first meeting that he was determined to face this huge industry. I am convinced that Team Seibii, with Mr. Sagawa and Mr. Semmura's enthusiasm, execution, and expertise, will be a change-maker in the aftermarket. I am looking forward to seeing them take on the great challenge of combining Japan's strengths in operations/services and technology to dramatically enhance the customer experience, and to become on par with the "TOYOTAs of the world"!

0 James Riney, Founding Partner and CEO, Coral Capital

We are honored to make this additional investment in Seibii. This market has been challenged with user-facing service delivery and transparency, and has been waiting for a strong technology player to emerge. What we at Coral Capital find particularly exciting about Seibii is that it is not only a user-oriented service, but also a mechanic-oriented service. We are constantly discussing how we can help mechanics as we build our services and business. I am convinced that this kind of attention to all stakeholders in the industry is what will drive Seibii's further growth.

0 Nobuhiro Ariyasu, Angel Investor

We invested 120 million yen, a particularly steep amount per company (60 million yen from an individual and 60 million yen from an angel fund I am working with my friends). The huge "automotive aftermarket" market, the business model, and the mature management team. It was in October 2017 that I was first contacted by Mr. Sagawa, the founder of Seibii. After several Pivot's later, the market area and timing snapped into place like a jigsaw puzzle. I am confident that over the next 10 to 20 years, Seibii will steadily build up its network of value provision and grow into a social infrastructure. I am confident that over the next 10 to 20 years, Seibii will steadily build up a network of value provision and grow into a social infrastructure.

Takeshi Kaneko, Partner, East Ventures

I feel that the presence of the Seibii team has been a positive stimulus for other startups as well. Please continue to be a role model for all of us!

(Individual investors below, in alphabetical order)

Tamon Suzuki (Founder and Representative Director, Ollie's Co.)

I was attracted by the potential of the aftermarket and the appeal of the two founders, and decided to join the company on the spot. I have been very inspired to see how their vision has taken shape at a high growth angle in less than two years since the company was founded. From the proof of value to the expansion of value, to further product development and growth marketing. I am sincerely supporting the next phase of the company's growth.

Mr. Hidetoshi Takano (Key Players and Angel Investor)

He is a rare person who comes from a general trading company and can learn and develop. Moreover, there are already two managers in the company. I invested in this company because I believe that he is interested in DXing a legacy industry and can do it himself! We are supporting you.

Masayoshi Nagatsuka (Founder and Chairman of the Board, Ernesto Corporation)

I have worked with the founders, Mr. Sagawa and Mr. Semmura, since they were both working for Mitsui & Co. I have seen their energy, sincerity, and passion. After hearing their enthusiasm for starting their own business and creating value for society, I have been supporting them since the start-up period, hoping to help in any way I can. I am sure they will succeed!

Minoru Moriya (New business entrepreneur)

While changes in the main body of mobility are covered in the news, the aftermarket, which supports the backside of mobility, is rarely mentioned. If the main body of mobility is the "artery," the aftermarket is the "vein," the two sides of the same coin, and change is inevitable. Seibii is a startup that is now in demand, as it seeks to solve both the "owner's dissatisfaction with car maintenance" and the "problems of the mechanic industry" through a technology-based system.

Toru Yoshikawa (Founder and Representative Director, mybest) 

Seibii has the potential to change the entire auto maintenance industry, just as cloud services have disrupted the big old market of auto maintenance.

What is "Seibee", an on-site car maintenance and repair service?

Seibi" is an on-site service for car maintenance, repair, parts installation, etc. by nationally certified mechanics that can be easily consulted and requested via smartphone or the Internet.
By selecting the date, time, menu, and payment in advance from a smartphone or PC, a nationally certified auto mechanic will travel to the customer's home or other location at the time of the reservation.
For those who are unfamiliar with cars or are struggling with the menu, chat consultations with auto mechanics are available on the service page (free of charge). The "Seibi" business model, which is based on "business trips," saves time by eliminating the need to visit a store or wait for a mechanic, and the pricing is comparable to or lower than the market price at a store.

          Image of "Seibi" service

name of companySeibii Corporation
EstablishmentJanuary 2019
Location401 Fukuyoshicho Building, 2-2-6 Roppongi, Minato-ku, Tokyo 106-0032, Japan
representativeYu Sagawa, Representative Director and CEO
Business OverviewDevelopment and operation of "Seiby", an on-site automobile maintenance and repair service
uniform resouce locatorCompany website :https://seibii.co.jp/corporate/
Service Site:https://seibii.co.jp/
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