Preferred Networks (PFN) announced a capital and business alliance with ZENRIN and aims to develop services for municipalities and real estate companies that analyze geospatial information with AI. The funds will be provided through subscriptions by ZENRIN and ZENRIN DataCom, and the amount raised was not disclosed.
PFN announced on the 29th that it had formed a capital and business alliance with ZENRIN in the geospatial information services sector. ZENRIN and its subsidiary ZENRIN DataCom subscribed to PFN’s third-party allotment of new shares, but the amount raised was not disclosed. The companies indicated that the funds would be used for hiring personnel and other purposes.
ZENRIN’s strength lies in its holdings of geospatial data. It aims to develop services that can be used through AI analysis for local-government measures addressing vacant homes, urban planning and property valuations by real estate operators.
Through the alliance, the companies envision providing AI-powered geospatial information services to municipalities and real estate companies. PFN will establish a collaborative framework in Chiyoda, Tokyo, while ZENRIN will strengthen cooperation to expand the use of geospatial information data.
Specific timing for the launch of the services and details of the business opportunities have not been disclosed.