Ascend Raises ¥1.1 Billion in Series B
Ascend, a Tokyo-based company specialising in digital logistics solutions, has secured ¥1.1 billion in Series B funding. The latest investment round, completed in October 2024, brings the firm’s total funding to around ¥1.8 billion. Founded in March 2020, Ascend aims to modernise the shipping industry through its SaaS-based Logix platform, which digitises transportation operations from end to end.
The funding round was led by Globis Capital Partners, a prominent Tokyo venture capital firm managing over ¥180 billion in assets. Other participants included Value Chain Innovation Fund, LTS Co., Mercuria Supply Chain Investment, Mitsubishi UFJ Capital, and Hokkoku Bank. Existing backers such as SMBC Venture Capital, Mizuho Capital, Sony Innovation Fund, and Telehouse Corporation also contributed.
Ascend’s Logix system serves as a centralised platform for shipping companies, streamlining tasks like route planning, fleet management, and real-time tracking. Under President and CEO Mizuki Kusaka, the company has positioned itself as a key player in logistics digitisation. The new capital will support multiple growth initiatives. Plans include expanding the engineering team, enhancing customer support, and developing additional services. A portion of the funds will also go toward building a data-driven logistics infrastructure to further improve efficiency in the sector.
With this injection of funds, Ascend is set to accelerate its expansion and refine its technology. The company’s focus remains on strengthening its platform and broadening its market reach. The investment underscores growing confidence in digital solutions for the logistics and transportation industry.
