Folofly Inc. announced that it has raised ¥1,108,991,000 in a round of funding on January 31, 2023. The transaction included participation from new investors, SBS Holdings, Inc., ENEOS Innovation Partners LLC, Osaka Gas Co., Ltd., K4 Ventures GK, The Shiga Bank, Ltd., Kyoto University NVCC Fund 2, a fund managed by Nippon Venture Capital Co., Ltd., an investment arm, Marubeni Corporation, Kyogin Kagayaku Mirai Ouen Fund No. 3 For SDGs, a fund managed by Kyogin Lease & Capital Co., Ltd., an investment arm.

The company raised funds through third-party allotment.