Zeroth Partners With Japanese AI Incubator DEEPCORE
Zeroth is one of the world’s first AI accelerators focused on frontier technologies like AI and machine learning
Hong Kong, November 19, 2018 - Zeroth announces a strategic partnership with DEEPCORE Inc., a Tokyo based incubator and VC focused on advancing artificial intelligence and unleashing the potential of technology visionaries. As part of the partnership, Zeroth and DEEPCORE will collaborate to share dealflow, expertise and information for technology investments in Asian markets, bring their respective communities together, and back the growth of the AI founder community over the next few years.
DEEPCORE, a wholly owned subsidiary of global technology player SoftBank Group Corp. (TYO: 9984), aims to accelerate the adoption of deep learning in society and foster entrepreneurs by creating a new ecosystem that promotes collaborative projects and develops startups, in cooperation with various educational research institutions and companies. DEEPCORE operates the AI-focused incubation community “KERNEL HONGO” for AI engineers and researchers in Tokyo, and a VC fund, “DEEPCORE TOKYO I Investment Limited Partnership,” which invests in seed and early-stage AI startups.
Zeroth today also welcomed Paul Pheby as a partner; Mr Pheby previously worked in London, Japan and Asia with various investment banks, Citibank, Salomon Brothers, and Peregrine, and established the first foreign joint venture investment bank and asset management company in Seoul, Korea. Subsequently he founded Lotus Asset Management in Hong Kong and is a partner and founding investor in Midas Asset Management Korea.
Zeroth is one of the first accelerators in the world to focus on artificial intelligence and machine learning. Zeroth invests in high-potential start-ups and provides operational, strategic, and networking support to investee companies as they develop their businesses. Separately from its acceleration programme, Zeroth has also invested in blockchain-focused companies.
To date, Zeroth has accelerated three cohorts totaling 33 companies, obtaining an average 6% stake index n each, and has made eight investments in companies focused on blockchain technology. Various companies went on to raise funding after graduating from the Zeroth acceleration programme, including from prominent venture capital firms Horizons Ventures (invested in Fano Labs, now Accosys), Mizuho Venture Capital (invested in Laboratik), Portag3 Ventures (invested in Planto), KB Investments (invested in Seoul Robotics), and Aeternity Ventures (invested in Utu).
Zeroth previously announced its first closing with Animoca Brands (ASX: AB1) as anchor investor on October 2, 2018.
Katsumasa Niki, CEO of DEEPCORE said: ”We regard this partnership with Zeroth as an important step to expand the boundary of our capability. Zeroth’s international perspective will provide us with a significant advantage to inspire entrepreneurs in Japan to address globally momentous issues with the power of AI. We are excited to pursue a shared vision with Zeroth.
Tak Lo, CEO of Zeroth said: “We are humbled to work with DEEPCORE, with whom we share a vision of the future of AI, its impact on technology businesses, and its opportunity to solve humanity’s great problems. Together we will work closely to realize that vision, and support AI founders across the world and specifically in Japan.”