Medirom healthcare technology‘s subsidiary, medirom mother labs, raises an aggregate total of jpy260.3 million in its series a financing round

Tokyo, dec. 13, 2024 (globe newswire) -- medirom healthcare technologies inc. (nasdaq: mrm) announces that its subsidiary medirom mother labs inc. raised to date an aggregate total of 260.3 million yen (approximtaely usd $ [1.7] million calculated at an exchange rate of jpy[153.64] to us$1) at a pre-money equity valuation of jpy9 billion (approximately usd $ [58.6] million calculated at an exchange rate of jpy[153.64] to us$1) in its series a equity financing. nfes technologies inc. is the lead investor in the financing round, and several public companies in japan, including m3, inc. (tokyo prime: 2413) and elematec corporation (tokyo prime: 2715), as well as certain individual investors are also participating. the series a equity financing round is still ongoing. medirom mother labs has closed financings with six investors to date and intends to conclude the financing round by december 31, 2024. “we are very excited that our medirom mother labs subsidiary has received such significant validation from strategic partners as our lead investor nfes technologies inc. as well as m3,inc and elematec corporation. the pre money valuation of 9 billion yen is approximately multiples of medirom's current nasdaq listing market capitalization which i believe further validates our technology, business model and growth potential.” said kouji.
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