Hitachi CVC Fund, the Japanese conglomerate's corporate venture capital fund, led a financing round for startup Icognito its first investment in Israel.
Hitachi invested $1.6 million in the startup, which develops intelligent content recognition software. Existing investors also participated.
This first round is meant to bring Icognito $3.5 million, its chief executive Guy Rubinstein told TheMarker. Closure is expected in a few months.
The agreement also covers distribution of the company's Artificial Content Recognition products - used to filter Internet content - in Japan.
The connection between Icognito and Hitachi was made through Japan Israel Investment Corporation's manager Yoav Keidar, who represents the Japanese fund in Israel.