TYFFON INC. announced a private placement of 1,368,351 series AA-2 preferred shares at a price of $1.586619 per share for the gross proceeds of $2,171,051.695269 on October 3, 2018. The preferred shares are convertible and participating. The preferred shares will be converted into common shares at a price of $1.586619 per share.

New investors Canal Venture Co., Ltd., Sega Sammy Holdings Inc. (TSE:6460), Mizuho Capital Co. Ltd. invested in the transaction. Existing investor Tokyu Recreation Co., Ltd. (TSE:9631), existing investor Zappallas, Inc. (TSE:3770), and other investors also invested in the transaction.

The investment brings company's total investment to $4,000,000. The transaction was raised at post money valuation of $5,138,897.