Tokyo
Metro area · Japan · Pop. 40.7M · #27 city by EV
Enterprise value · 2015–2025
Tokyo grew 5.1× since 2015
Combined enterprise value of every tracked startup headquartered in Tokyo that's still operating today — public and private companies combined, totalled by founding-year cohort.
Adjacent cities by EV
Startup funnel
Tokyo's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
Notable companies
Top private companies in Tokyo
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
Academia
Tokyo's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Tokyo.
Vs. similarly-sized ecosystems
How Tokyo stacks up
Peers chosen from the same country (Japan), sized closest to Tokyo by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.
Top overview
Japan — top cities
Top cities in Japan ranked by combined EV. Tokyo's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Tokyo | $220B | 6.1× | 18 | $3.1B | 5,992 |
| 2 | Osaka - Kobe | $22.7B | 9.6× | 0 | $416.9M | 715 |
| 3 | Kyoto | $5.5B | 7.7× | 0 | $353.7M | 187 |
| 4 | Okinawa | $3.7B | 4.1× | 0 | $38.8M | 253 |
| 5 | Fukuoka | $1.6B | 3.9× | 0 | $13.5M | 163 |
| 6 | Kagoshima | $1.4B | 3.0× | 0 | $10M | 22 |
| 7 | Nagoya | $1.2B | 13.6× | 0 | $95.6M | 114 |
| 8 | Sendai | $1.1B | 49.4× | 0 | $32.9M | 135 |
Sector concentration
Where Tokyo punches above its weight
Sectors in which Tokyo's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Tokyo is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Tokyo dataset — or see a sample on the Dealroom app.
Get the full Tokyo ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.