A Japanese investor is leading an additional $1 million investment in Ottawa’s inBay Technologies, which the firm says is key to expanding in the east Asian country.
The local firm, which develops a “passwordless” security solution based on a user’s smartphone, first announced a $1-million seed round last September. That round was led by a Dutch venture capital group and an Ottawa “super angel,” represented by Tongda One Partners.
This week, inBay announced it has oversubscribed this initial round by $1 million, thanks to contributions from Tokyo’s Global Alliance Inc. The Japanese firm has been an early investor in emerging technology companies such as PayPal.
OBJ360 (Sponsored)
![People enjoying the Ottawa REDBLACKS Subaru log cabin](https://assets.obj.ca/2024/06/subaru-log-cabin-2023-gallery-300x169.gif)
Game on! How Ottawa REDBLACKS business experiences create meaningful connections
An Ottawa REDBLACKS game may be the only place a business leader should leave their game face at the door.
![Ottawa business growth survey with Welch LLP](https://assets.obj.ca/2024/07/WBGS-2024_1280x720_Promote-report-300x169.jpg)
Ottawa’s growth is at an inflection point
One thing the Welch LLP Business Growth Survey taught us this year is most of the business community thinks we’re on track, but have a ways to go.
Shane Young, inBay’s CEO, said in a statement that Global Alliance will help to open opportunities for the company in Japan.