Japan's Seven Dreamers, developer of laundry-folding robot, secures $55 million

A product from Japan created quite the stir at Consumer Electronics Show in Las Vegas and CEATEC JAPAN in Tokyo this year. The "harmony" of clothing analysis, artificial intelligence (AI), and robotics blend together to produce a "fully automatic clothes folding machine." Japan technological alliance "seven dreamers laboratories' is the developer. The product details have been released in various places, so I won't get into that, but as the name says, "It's a robot that folds clothes. No further explanation is needed." The company announced a partnership with Panasonic (TSE:6752) and Daiwa House (TSE:1925) last year, and together established the joint venture Seven Dreamers Laundroid with plans to begin sales by reservation for their first machine "Laundroid 1" in March of 2017. The developer, Seven Dreamers, announced on November 14th the securement of 6 billion yen (around $60 million US) in funds from SBI Investment, in addition to Panasonic and Daiwa House. The shareholding ratios and payment date remain undisclosed. The concept began in 2005, and with the realization of "folding" from 2013, Laundroid was born. I heard from Seven Dreamers CEO Shin Sakane about the road it took to get here. I came today with the idea of asking straight out, "What happened to make robots fold the laundry?" Well, to be straight, "It's now possible to recognize clothes using artificial intelligence," is maybe the simplest answer I can give. Let's go through the process. How did the idea first come to you? Before that, first permit me to talk a little about what criteria the Seven Dreamers esteem. For us, there are three criterion for "Things that have not been realized yet but could change our lives, and also enrich them." The technological hurdles are high and our policy is to clear them. You've made something that sets high hurdles. Since first coming up with the idea, I was thinking about different markets to satisfy all the criteria. Looking around we see many products targeted at men. Starting now and into the future, 'women', 'the elderly', and'children' are the keywords that will become important. After thinking, the idea that maybe the answer lies within the home came to me and, while I don't usually talk with my wife about work, I casually mentioned it to her. What do you wish you had? She came back just as fast, "Of course, it has to be a machine that folds the laundry.