MEDIROM MOTHER Labs has approved a private placement of new shares to two officers, Yoshio Uekusa, President and CEO, and Ryo Saito, Director, as part of its Series A financing round, at a valuation of JPY9 billion. Funding is scheduled to occur by the end of October. Through this capital increase, MOTHER Labs will strengthen its capital base while advancing the development of an upgraded version of its wearable device, the MOTHER Bracelet, and establishing systems for bringing products to market.
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