WHILL Raises $1M from 500 Startups, Itochu Technology Ventures and Other Investors

7/19/2013

WHILL, Inc. raised approximately $1M from 500 Startups (Dave McClure), Itochu Technology Ventures, Eric Kwan (Facebook) and other Investors. WHILL creates and designs next generation personal mobility devices.

The funds will be used for product development, production and sales of the initial product, and hiring of new employees.

WHILL won the top award of SVForum’s Launch Silicon Valley held in June 2013 (http://yhoo.it/11idnc8) and now WHILL is rigorously proceeding product development and plans to launch its initial product in the US market in early 2014,

WHILL’s President and CEO Satoshi Sugie commented: “This round of fundraising provides us with not only the funds to move our business forward, but it also provides us with a valuable network of world class investors who can help propel our business to the next level. We intend to work harder to launch our product in the U.S. and reach a broad range of customers. By creating the next generation of personal mobility devices we aspire to change the world where the disabled and the elderly can get around in a fun and smart way.”

About 500 Startups:
500 Startups (Mountain View, CA, founded in 2010) is one of the most reputable seed funds and startup accelerators in Silicon Valley. It provides early stage startups with funds for growth, office space, and know-how, and it supports its portfolio companies with their marketing and fundraising efforts.