CyberAgent, online fashion store operator Start Today and venture capital firm Globis Capital Partners have invested 350 million yen in Kayac, a web startup based out of Kamakura, Japan. According to reports in Japanese media, the stakes will add up to around 10% of the entire company.
Kayac was founded in 1998, has 130 people and reached 1.6 billion yen in sales in fiscal 2010. The startup wants to use the money to hire 50 more engineers and expand its global business (Kayac also took part in this year’s SXSW in Austin/Texas as an exhibitor).
Kayac is also said to eye an IPO in the near future.