Elephantech Inc., formerly known as AgIC Inc., is a Japanese green tech startup specializing in the mass production of printed circuit boards (PCBs) using metal inkjet printing technology. Established in January 2014, the company is headquartered in Tokyo, Japan. Elephantech's mission is to make the world sustainable through innovative manufacturing technologies, aiming to establish a new industry standard that promotes decarbonization and biodiversity in the electronics sector.
Key Strategic Focus
Elephantech focuses on developing and scaling additive manufacturing technologies for the electronics industry. Their proprietary Pure Additive™ method enables the production of flexible PCBs with reduced environmental impact and manufacturing costs. The company's primary markets include consumer electronics, automotive, and industrial applications, where sustainable and efficient PCB manufacturing is increasingly in demand.
Financials and Funding
Since its inception, Elephantech has secured multiple funding rounds to support its growth and technological advancements. In March 2024, the company raised ¥3 billion in a Series E funding round led by Nomura Holdings. This capital is intended to enhance production capabilities, expand market reach, and further develop their proprietary technologies.
Pipeline Development
Elephantech's key product, P-Flex®, is a flexible PCB produced using their Pure Additive™ method. This product is designed to reduce environmental impact and manufacturing costs. The company continues to innovate in this space, with ongoing research and development aimed at expanding their product offerings and applications.
Technological Platform and Innovation
Elephantech's proprietary Pure Additive™ method involves converting metal into nanoparticle ink, printing it on a substrate, and growing it using electroless copper plating to form circuits. This process reduces the number of manufacturing steps and environmental impact compared to traditional PCB manufacturing methods. Additionally, the company has developed NeuralJet™, a high-precision inkjet manufacturing technology that utilizes artificial intelligence to enhance production accuracy and efficiency.
Leadership Team
- Shinya Shimizu, Representative Director / CEO / Co-Founder: Founded Elephantech Inc. in 2014. Prior to this, he provided consulting services to manufacturing companies at McKinsey & Company. He holds a Master of Engineering degree from the University of Tokyo.
- Masaaki Sugimoto, Board Director / Co-Founder: Co-founded Elephantech Inc. in 2014. He holds a Master of Science degree from the University of Tokyo.
- Keisuke Ito, Board Director / CFO: Appointed as Board Director & CFO in April 2025. Joined the company in 2023 as Executive Officer and CFO. Previously served as COO of APB Corporation and was a management consultant at McKinsey & Company. He holds a Bachelor of Engineering from the University of Tokyo.
Leadership Changes
In April 2025, Keisuke Ito was appointed as Board Director & CFO, succeeding his role as Executive Officer and CFO since 2023.
Competitor Profile
Market Insights and Dynamics: The global PCB market is experiencing significant growth, driven by increasing demand for electronic devices across various sectors. The shift towards sustainable manufacturing practices is also influencing market dynamics, with companies seeking eco-friendly solutions.
Competitor Analysis: Key competitors in the sustainable PCB manufacturing space include companies like DP Patterning, Infineon Technologies, Jiva Materials, Samsung, Syenta, and Tactotek. These companies focus on various aspects of eco-friendly electronics manufacturing, such as biodegradable materials, energy-efficient processes, and additive manufacturing techniques.
Strategic Collaborations and Partnerships
Elephantech has formed strategic alliances to strengthen its market position and innovation capacity. In July 2019, the company partnered with Seiko Epson Corporation, and in October 2019, it formed a strategic alliance with Mitsui Chemicals, Inc. These collaborations aim to enhance technological capabilities and expand market reach.
Operational Insights
Elephantech's additive manufacturing approach offers distinct competitive advantages, including reduced environmental impact, lower production costs, and increased design flexibility. These factors position the company favorably against competitors in the PCB manufacturing industry.
Strategic Opportunities and Future Directions
Elephantech aims to scale its Pure Additive™ technology to establish it as a sustainable industry standard. The company is exploring opportunities to expand into new markets and applications, leveraging its strengths in eco-friendly manufacturing to meet the growing demand for sustainable electronic components.
Contact Information
- Website: elephantech.com/en/
- Email: hello_en@elephantech.co.jp
- Phone: +81 362803271
- Headquarters: Tokyo, Japan
