# S-Mat funding: rounds and investors

> S-Mat has raised $39M across 2 rounds since 2025. Investors include Google for Startups, MUFG Bank and Sumitomo Mitsui Banking Corporation.

Source: https://millionrounds.com/company/s-mat (Millionrounds; every figure on the page links to its filing or article)

Japan · [Series C startup](https://millionrounds.com/companies)

# Who invested in *S-Mat*

2 rounds we have observed, with the 4 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

E-commerce

Funding summary Updated 26 Oct 2026

**$39M** raised across 2 rounds since 2025, from 2 sources

**$2.7M** Series C **$36M** Series C

- **Latest round:** Series C, $36M Jun 2025
- **Step-up i:** 13.3×
- **Investors:** 4

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026

**$2.7M** Series C

**$36M** Series C

- **First round:** Series C, $2.7M
- **Biggest round:** $36M
- **Between rounds:** 2 months

## The rounds

- **Jun 2025** Series C **$36M** *3 returning* [Google for Startups](https://millionrounds.com/fund/google-for-startups) [MUFG Bank](https://millionrounds.com/fund/mufg-bank) [Sumitomo Mitsui Banking Corporation](https://millionrounds.com/fund/sumitomo-mitsui-banking-corporation) Source recorded
- **Apr 2025** Series C **$2.7M** *4 new* [Google for Startups](https://millionrounds.com/fund/google-for-startups) [MUFG Bank](https://millionrounds.com/fund/mufg-bank) [Sumitomo Mitsui Banking Corporation](https://millionrounds.com/fund/sumitomo-mitsui-banking-corporation) [Monozukuri Ventures](https://millionrounds.com/fund/monozukuri-ventures) Source recorded

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Series C** 2025 **Series C** 2025 [Google for Startups](https://millionrounds.com/fund/google-for-startups) [MUFG Bank](https://millionrounds.com/fund/mufg-bank) [Sumitomo Mitsui Banking Corporation](https://millionrounds.com/fund/sumitomo-mitsui-banking-corporation) [Monozukuri Ventures](https://millionrounds.com/fund/monozukuri-ventures)

## Everyone who backed them

[Google for Startups](https://millionrounds.com/fund/google-for-startups) Accelerator **2** rounds

[MUFG Bank](https://millionrounds.com/fund/mufg-bank) Investment firm **2** rounds

[Sumitomo Mitsui Banking Corporation](https://millionrounds.com/fund/sumitomo-mitsui-banking-corporation) VC firm **2** rounds

[Monozukuri Ventures](https://millionrounds.com/fund/monozukuri-ventures) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=s-mat).

## Quick answers about S-Mat

### Who invested in S-Mat?

S-Mat's investors include Google for Startups, MUFG Bank, Sumitomo Mitsui Banking Corporation and Monozukuri Ventures.

### How much has S-Mat raised?

S-Mat has raised $39M across 2 rounds since 2025.

### When did S-Mat last raise?

S-Mat's most recent round was a Series C of $36M in Jun 2025.

### What was S-Mat's biggest round?

Its most recent round, $36M in Jun 2025, is also its largest on record.

### Who backed S-Mat first?

S-Mat's first round on record, in Apr 2025, was backed by Google for Startups, MUFG Bank and Sumitomo Mitsui Banking Corporation and 1 others.

### What stage is S-Mat at?

S-Mat's latest named round is a Series C, in Jun 2025.

### Where is S-Mat based?

S-Mat is based in Japan.

## Companies like S-Mat

In the same sector, and raised in the last eighteen months.

[**Beer and Tech** $8.8M · Jul 2026](https://millionrounds.com/company/beer-and-tech)[**Forest** $43M · May 2026](https://millionrounds.com/company/forest)[**Kuradashi** $1.8M · May 2026](https://millionrounds.com/company/kuradashi)[**Caguuu** $9.6M · Dec 2025](https://millionrounds.com/company/caguuu)[**Grooves** $9.9M · Nov 2025](https://millionrounds.com/company/grooves)[**Anatae** $1.8M · Jul 2025](https://millionrounds.com/company/anatae)

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