Nok Nok Labs, Inc. announced that it will receive equity funding on December 5, 2014.

On December 5, 2014, the company announced it will issue 4,125,000 class C preferred shares at ¥239.60 per share for gross proceeds of ¥988,350,000. Each share issued can be converted into one common share of the company. The shares issued will carry out the dividends preferentially over common shares. The series C round included participation from seven investors including, new investors, DDS Inc. for 1,000,000 class C preferred shares for gross proceeds of ¥239,600,000 and Raven Capital, existing investors, DCM Ventures, Lenovo Group Limited, and ONSET Ventures. The transaction took place through third party allocation. DCM Ventures, Lenovo Group Limited, and ONSET Ventures holds 23.7% stake, 12.8% stake, and 23.7% stake in the company respectively. The company currently has a capital of ¥1,808,980,000. The transaction has been approved by the board of directors of DDS Inc. The company has received $40,000,000 (¥4,848,080,000) in funding till date. The conversion was made through www.oanda.com on December 9, 2014. The company issued securities pursuant to exemption provided under Regulation D.

On the same date, the company has received funding in its first tranche.