Japan Tech Update – Q1 2025

An update on the Japan venture ecosystem activity for Q1 2025. Historical and international benchmarks, sector trends and biggest rounds.

Key findings

• Japanese startups raised $621M in venture capital in Q1 2025, across 207 funding rounds.
• Japan recorded 57 rounds of $2M or more in Q1 2025, in line with the same point in previous years even as total capital fell.
• No late-stage round of $100M or more was raised in Japan in Q1 2025.
• Space was Japan's most funded tech industry in Q1 2025 at $123M, ahead of health at $91M and travel at $82M.
• Japan ranked fourth among Asian countries for VC investment in Q1 2025 with $623M, down 2% on Q1 2024, behind China, India and Israel.