Fundraising Fox

フォトシンス

Public · 21 known investors

Japanese IoT company behind the Akerun retrofit smart lock and cloud-based access control system for businesses.

Also known as Photosynth · Photosynth inc. · 株式会社Photosynth · 株式会社フォトシンス

Investors · 21

Also in the syndicate · 17

Beta CatalystBSP GroupDaiwa Corporate InvestmentleadFidelity InternationalleadGaiaxindividual investorsJAFCOleadJapan Finance CorporationJoyo BankJoyo Sangyo KenkyushoLINE VenturesMitsui Fudosan CVCMizuho BankNorinchukin BankORIXShinsei BankYJ Capital

Company profile

researched Aug 2026

Photosynth (株式会社Photosynth / フォトシンス) is a Tokyo-based IoT and cloud company founded in September 2014 that originated from the University of Tsukuba. Its principal product is the Akerun access control system (Akerun入退室管理システム), a business-oriented service built on a retrofit smart lock that attaches over an existing door's thumb-turn without construction work. Users unlock doors with smartphones, employee ID cards or transit NFC cards, while key permissions, entry/exit logs and time- or day-restricted access rights are managed in the cloud. The product family also includes the consumer-oriented Akerun smart lock and the Akerun Controller, which directly controls existing electric locks, electromagnetic locks and automatic doors from the cloud.

The company positions Akerun as an identity and authentication layer rather than a lock alone: its API connects to external attendance-management, membership and payment, and facial-recognition systems, enabling labor management, cashless payment and biometric-based security. Since 2020 the company has articulated an "Akerun Access Intelligence" access-authentication platform strategy intended to connect any door to the internet and let a single Akerun ID move seamlessly across offices, housing, hotels and other spaces. Reported applications span offices, shops, shared offices and coworking spaces, rental spaces, fitness gyms, medical facilities, R&D facilities and server rooms, as well as unattended operations, self-guided property viewings and monitoring services.

Photosynth listed on the Tokyo Stock Exchange Mothers market on 5 November 2021 under securities code 4379, with an initial-price market capitalization of ¥21,482 million; the listing later moved to TSE Growth. The company is headquartered at G-BASE Tamachi, 5-29-11 Shiba, Minato-ku, Tokyo, and reports subsidiaries Migakun and fixU.

Founding story

The idea came from a conversation among engineer friends about the inconvenience of physical keys — losing them, digging them out of a bag, handing spare keys to family or partners. Six engineer friends built a prototype as a weekend project using parts bought in Akihabara and completed it in about six months. Coverage by the Nihon Keizai Shimbun in summer 2014, in which a smartphone-linked key for a housekeeping service was highlighted, produced a flood of purchase, partnership and investment inquiries while the team still had only a 3D-printed prototype and no company, prompting them to incorporate and pursue mass production. The name Photosynth derives from "photosynthesize," reflecting an intent to connect inorganic objects such as keys and doors into something organic through information.

Business model

B2B hardware-plus-software subscription. Akerun is sold as a rental/SaaS model with zero initial cost and a monthly fee — reported at ¥17,500 per Akerun Pro set per month — replacing the traditional buy-outright access control systems that required on-premise servers, network cabling and door construction costing roughly ¥1 million. Firmware and cloud software are updated remotely over the life of the subscription.

Recurring monthly subscription (rental) fees per installed Akerun unit, with no upfront hardware purchase required by the customer.

Traction

Cumulative deployments were reported at over 4,500 companies in early August 2020 and more than 5,000 companies by July 2021. Headcount grew from about 60 full-time employees around early 2019 to roughly 110 in 2021 and about 180 in company recruiting material, with the business described as around 150 people at the time of the July 2021 financing; a startup database lists up to 300 employees as of 2026. Cumulative funding reached approximately ¥7.0 billion with the July 2021 round, and the IPO initial-price market capitalization was ¥21,482 million. Awards include Good Design Award 2015 and 2018, HEAD Best Selection Award 2015, the 3rd CNET Startup Award (CNET Japan Award) and the Global Brain Award at TechCrunch Tokyo 2014.

Latest developments

In 2021 the company disclosed capital and business alliances with JR East Startup (including a Suica-based building access trial), Kokuyo and the Nomura Real Estate group CVC fund, closed a ¥1.75 billion third-party allotment led by Fidelity International and SBI Investment with Mitsui Fudosan CVC and NTT Docomo Ventures, appointed Eisuke Inoue as outside director and Takuya Oikawa as technical advisor, and listed on TSE Mothers in November 2021. MIWA Akerun Technologies released its first residential smart lock product in September 2021. More recent press releases describe an Akerun integration with the TeamPlace.CRM facility and membership management system for coworking and incubation spaces (August 2026), a collaboration with Kumahira targeting government and education institutions for digital identity credentials (July 2026), an integration with the rental-space booking site builder upnow (June 2026), and publication of a corporate vision video centered on creating physical spaces that do not depend on human staffing (June 2026).

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Described as the company that invented and opened the retrofit smart lock category and as the leading vendor by number of installations in Japan's B2B smart lock market. Cited competitors are Qrio (consumer-focused Qrio Lock) and bitkey (bitlock). The Japanese access control system market was estimated at ¥29.8 billion for FY2018 and forecast at ¥33.0 billion for FY2021 (Fuji Keizai).

Retrofit installation without construction work and cloud-based management distinguish Akerun from the on-premise security systems historically supplied by large electronics manufacturers. A zero-initial-cost monthly rental model lowers the barrier for smaller firms, and the shift to a B2B focus, ID-linked access records and integrations with attendance and payment systems separate it from consumer-oriented smart lock rivals. The company also cites patent filings and third-party-verified security design.

Technology

Retrofit smart lock hardware paired with a cloud back end. The device keeps a minimal feature set on-board while control logic and data reside on servers, allowing over-the-air updates of both the cloud service and the lock firmware; entry/exit data stored in the cloud can feed attendance management. Security uses public-key cryptography, SSL communication and AES, with a scheme that does not reuse a communication identifier, and the company states third-party security assessments. Engineering spans BLE embedded development, AWS cloud infrastructure, Rails, iOS and Android. Deployments can support customers' Privacy Mark and ISMS requirements. The Akerun Controller extends control to installed electric and electromagnetic locks and automatic doors.

Go-to-market

Direct proposal-based sales combined with a nationwide distribution/reseller network, supported by inside sales, customer success and field support functions. The company has used heavy PR and media positioning since its seed stage — including a launch press conference featuring executives from NTT Docomo, Mitsui Fudosan and LIFULL — and later taxi CM advertising. Capital and business alliances with corporates (JR East Startup, Kokuyo, Nomura Real Estate group CVC, Mitsui Fudosan CVC, Miwa Lock) serve as channel and product expansion routes, and a 2021 financing was earmarked partly for opening regional sales bases outside its three existing prefectures.

Primarily corporate customers, including small and mid-sized companies that previously found conventional access control systems too costly, plus operators of shared offices, coworking and rental spaces, fitness gyms, retail stores, medical facilities, research and development sites and server rooms. A residential/consumer track exists via the MIWA Akerun Technologies joint venture.

Geography

Headquartered in Minato-ku, Tokyo (G-BASE Tamachi, 5-29-11 Shiba). A Fukuoka office opened in June 2020, and as of the July 2021 financing the company operated sales bases in three prefectures including Tokyo and planned new regional bases elsewhere in Japan.

History

Founded 1 September 2014 by CEO Kodai Kawase with co-founders Hiroaki Watanabe (COO), Yuya Kumagai, Kazuhiro Honma and Sho Kobayashi. An initial ¥20 million investment came from Kawase's former employer Gaiax and was spent largely on PR to build market expectations, which the company credits with enabling a ¥450 million Series A in September 2015 that funded mass production; the consumer Akerun Smart Lock Robot was compressed from an estimated two-year to a roughly seven-month path to mass production. The company then pivoted to B2B with Akerun Pro and the Akerun access control system, raised ¥1 billion in May 2018 and ¥3.5 billion in August 2020 including debt, opened a Fukuoka office in June 2020, announced a residential smart lock joint venture with Miwa Lock (MIWA Akerun Technologies) in December 2020 that was established in January 2021, signed capital and business alliances with JR East Startup, Kokuyo and Nomura Real Estate group CVC in June 2021, raised ¥1.75 billion in July 2021, and listed on TSE Mothers on 5 November 2021.

Risks & controversies

Commentary published in May 2021 noted the business faced both expansion and contraction scenarios: COVID-19 accelerated office downsizing and lease cancellations among corporate customers, making the company's ability to capture coworking-space and alternative-space demand a determining factor. The company also operates in a market with emerging competitors that followed its retrofit smart lock into the category.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Akerun Pro monthly subscription price (JPY per set)May 202117,500 JPY/month
Average employee ageJun 202635.7 years
Capital (shareholders' capital, JPY)Mar 2023$3.5B
Cumulative funding raised (JPY)Jul 2021$7B
Customer companies deployedJul 20215,000 companies
Employee count bandAug 2026up to 300
EmployeesMar 2023180 people
IPO market capitalization at initial price (JPY)Nov 2021$21.5B
Japan access control system market size (JPY)Jan 201829,800,000,000 JPY
Japan access control system market size forecast (JPY)Jan 202133,000,000,000 JPY
Round amount (JPY)Jul 20211,750,000,000 JPY
Round amount incl. debt (JPY)Aug 20203,500,000,000 JPY

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 21

launches, deals, and filings
Aug 2026
Akerun integrates with TeamPlace.CRM facility and membership management system

System integration between Akerun and TeamPlace.CRM, a facility and member management system for coworking and incubation spaces.

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Jul 2026
Collaboration with Kumahira on digital identity credentials for government and education

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Jun 2026
Akerun integrates with rental-space booking site service upnow

Integration enabling unmanned operation of rental spaces to improve space owners' profitability.

source ↗

Jun 2026
Photosynth publishes corporate vision video on autonomous physical spaces

Corporate vision video presenting the aim of creating physical spaces that do not depend on human staffing.

source ↗

Nov 2021
Listed on Tokyo Stock Exchange Mothers (code 4379)

Photosynth completed an IPO on the TSE Mothers market on 5 November 2021 with an initial-price market capitalization of ¥21,482 million; the listing subsequently moved to TSE Growth.

source ↗

Sep 2021
MIWA Akerun Technologies releases first residential smart lock product

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Jul 2021
Raised ¥1.75bn in third-party allotment from Fidelity International and SBI Investment

Photosynth announced a third-party allotment totaling ¥1.75 billion subscribed by Fidelity International, SBI Investment and existing shareholders Mitsui Fudosan CVC and NTT Docomo Ventures. Including previously announced capital and business alliances with JR East Startup, Kokuyo and the Nomura Real Estate group CVC fund, cumulative funding reached approximately ¥7.0 billion. Proceeds were allocated to R&D for the Akerun Access Intelligence platform, customer support expansion, strengthening the nationwide sales network and expanding corporate management functions, plus new regional sales bases outside its three existing prefectures.

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Jul 2021
Eisuke Inoue appointed outside director; Takuya Oikawa appointed technical advisor

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Jun 2021
Capital and business alliance with Nomura Real Estate group CVC

Alliance to accelerate DX of spaces through ID integration and data management across offices and other domains.

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Jun 2021
Capital and business alliance with Kokuyo

Alliance to create new workplace value through data utilization via Akerun.

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Jun 2021
Capital and business alliance with JR East Startup

Alliance aimed at creating further uses for Suica; a proof-of-concept was announced for managing building entry and exit with Suica.

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Dec 2020
Joint venture with Miwa Lock for residential smart locks announced

Photosynth and Miwa Lock announced the establishment of MIWA Akerun Technologies, a joint venture for residential smart locks; the company was established in January 2021 to develop smart locks and related services.

source ↗

Aug 2020
Akerun integrates with hacomono booking system

Integration supporting online booking and payment and unmanned, keyless store operation during the COVID-19 period.

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Aug 2020
New Akerun strategy for a keyless society, unlocking multiple doors with a single ID

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Jun 2020
Retrofit touchless entry solution converting office doors to automatic doors

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Jun 2020
Fukuoka office opened

New Fukuoka office established to accelerate the company's keyless-society push in the Kyushu region.

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Aug 2019
Integration with freee HR/labor management software announced

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Jan 2018
Good Design Award 2018

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Jan 2017
CEO Kodai Kawase selected for Forbes 30 Under 30 Asia 2017 (Consumer Technology)

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Jan 2015
Good Design Award 2015 and HEAD Best Selection Award 2015

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Jan 2014
Global Brain Award at TechCrunch Tokyo 2014

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Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does フォトシンス do?
Japanese IoT company behind the Akerun retrofit smart lock and cloud-based access control system for businesses.
Who are フォトシンス's investors?
フォトシンス's investors include Global Brain, Globis Capital Partners, JR East Start UP, Z Venture Capital.