An ESG metaverse company engaged in a new business domain by providing digital map contents based on its proprietary map-creating technologies, and by combining big data such as location information and people flow data with state-of-the-art technologies, GeoTechnologies, Inc. (headquartered in Bunkyo District, Tokyo, President & CEO Hiroshige Sugihara), is pleased to announce that on May 31, it entered a strategic partnership with X-Locations Inc. (headquartered in Shibuya District, Tokyo, Representative Director Kazusuke Obi) through a capital and operational partnership agreement aiming to develop location-tech-related businesses. X-Locations is a company providing internally developed location information big data analysis engine “Location Engine™,” and a cloud platform based on its features “Location AI Platform® (“LAP”).”
Background of the partnership
Instantly accessible map information has become essential in people’s lives, as car navigation and smartphone map apps have become readily available. As a result, services based on location information from mobile phones have spread, becoming increasingly more convenient, used in more diverse ways. At the same time, people flow data is beginning to be used in many scenes, such as for marketing, store development, public services, transport, and disaster prevention, as people’s movement in the real world can be visualized with such data.
The new technology that integrates and analyzes these new “digital map data and location information data” with technologies such as AI, will go along with our Geo-Prediction strategy to bring a more predictable world by combining diverse and large amounts of big data we GeoTechnologies provide, with state-of-the-art technologies.
Purpose of the partnership
This time, GeoTechnologies will enter a capital and operational partnership with X-Locations by obtaining part of the new shares issued by X-Locations. X-Locations will improve the accuracy of its app by using GeoTechnologies’ diverse and large amounts of big data, such as location information and people flow data, and up-to-date, high-definition, high-quality maps. GeoTechnologies will improve the value of its big data by using the advanced big-data-processing technologies and AI technologies of X-Locations’ main product Location AI Platform®. This will enable both parties to mutually further advance their products and services.
These will strengthen our Geo-Prediction features, and location information and solutions based on people flow data that we provide to companies, which will result in not just developing both parties’ businesses, but in solving diverse social issues as an ESG Metaverse Company.
Through this partnership the parties will conduct the following.
In response to a request from X-Locations, GeoTechnologies will take on part of new stocks issued in the Series-B2 funding round.
The parties will engage in the following joint businesses through operational partnership.
- LAP and related products developed and provided by X-Locations will receive and implement GeoTechnologies’ latest map data, map-related technologies and people flow data to advance LAP features and improve service quality.
- GeoTechnologies will market X-Locations’ LAP and related products.
- The parties will bring together their technologies, intellectual property and management resources to jointly develop and provide new products.
Comment from President & CEO Hiroshige Sugihara
I am very pleased with this capital and operational partnership. I am convinced that X-Locations’ “Location Tech”, the advanced big-data processing technologies and AI technologies, will be able to provide solutions for social issues such a regional revitalization, decarbonization, and declining birthrate and aging society by taking advantage of our map, location information, and people flow data.
Through this partnership, and with our corporate philosophy that stipulates that “We tackle environmental and social challenges with the power of technology for all living things, for a sustainable society, and the joy of people”, we will promote the utilization of big data of people flow and location information.
Comment from Representative Director Kazusuke Obi
Having GeoTechnologies take on our new shares at this timing, and being able to bring about the joint business that will connect our mutual resources on a deep level, will be an opportunity to provide people flow data, which is the “data on people’s movement in the real world that was not visible before” that became more widely recognized by COVID-19 pandemic, to an even wider economic, social, and lifestyle domains.
We are committed to further develop technologies and products so that our technologies and products will be useful in various fields, such as effective use of resources, environmental conservation, and creation of new business opportunities.
I would like to convey my deep gratitude to President Sugihara and the management of GeoTechnologies for having decided to enter the strategic partnership with us.
About X-Locations Inc.
Our mission is to connect, analyze, and visualize diverse location information and spatial information in meaningful ways, enabling anyone to use it. We drive “Location Tech” by developing “Location Engine™”, a proprietary technology where AI analyzes and visualizes big location information data, and by developing and providing “Location AI Platform®,” a platform for using the Location Engine™ for business.
|Head office||6F Kobayashi Building, 1-2-9 Ebisu Minami, Shibuya-ku, Tokyo, 150-0022|
|Representative||Representative Director Kazusuke Obi|
|Established||November 1, 2017|
|Business||Development of location-information big data analysis engine “Location Engine™” and development and provision of business-use cloud platform “Location AI Platform®”
Provision of “Location ad 2.0” through the “Location Marketing Platform”, a next-generation location-based marketing service
About GeoTechnologies, Inc. (formerly known as Increment P Corporation)
In 1994, we started a digital map business for car navigation systems and since then we have been leading the Japanese map industry as a Major Map Company, by providing map data and location information solutions for car navigation systems and business customers as well as TRIMA and MapFan branded map services for individual and business customers. In recent years, we have also been offering high-definition maps that are required for realizing advanced self-driving cars.
We, GeoTechnologies, make the most of our proprietary mapping technologies and know-how to speedily collect, extract, and update a plethora of changes made to the real world so that we can provide up-to-date, high-definition, and high-quality maps. We also combine diverse and a large amount of big data, including location information and people traffic, and other various data related to the Earth (Geo) with state-of-the-art technologies in order to create a “Geo-Prediction” world. Through these efforts, we, as a leading metaverse company, contribute to solving various social issues related to the Earth.
|Headquarters' location:||Bunkyo Green Court Center Office, 2-28-8 Honkomagome, Bunkyo-ku, Tokyo|
|Representative:||Hiroshige Sugihara, President & CEO|
|Founded:||May 1, 1994|
|Business domains:||Automotive business (Development and edit of navigation data formats, Provision of navigation applications, Verification and evaluation through actual driving and desk check, Sales of map update software for car navigation, Maintenance and development of contents for business (rent-a-car, truck, etc.), Development, maintenance, and edit of high-definition maps for AD/ADAS) GIS business (Map application development kit, Digital map database, Map API for web and business systems, Map web portal "MapFan", Car navigation linkage application "MapFanAssist") Application business (M2E application "TRIMA", "TRIMA Coupon", "TRIMA Research", Address check service and address geocoding service, Analytics service of flow of people data, NFT marketplace, Web3.0 Blockchain, Application for logistics)|