State of Mind, Inc. announced that it has received ¥100 million in equity funding on October 11, 2016. The company has received funding through third party capital increase. The transaction included participation from Axel Mark Inc. (TSE:3624), a fund operated by existing investor Mizuho Capital Co., Ltd., a fund operated by Shizuoka Capital Company Limited, Sharing Economy No. 1 Investment Limited Partnership, a fund managed by GX Incubate Inc., and individual investors.