Kiviaq Inc., a Tokyo-based health technology company, has completed a pre-Series A funding round of 150 million yen on July 31, 2026. The round brings Mercuria Investment, Coral Capital, and Spiral Innovation Partners onto the shareholder register. With this latest injection, the company's cumulative funding since its founding has reached 280 million yen.
A Pharmacy Model Built on Speed and Care
Kiviaq operates Kiviaq Pharmacy, a dark store model applied to prescription dispensing. The service combines online completion with delivery from 30 minutes or less and also maintains a physical counter staffed by resident pharmacists. Patients can therefore receive prescription acceptance and medication guidance in person when preferred, alongside rapid home delivery.
Launch Traction and Delivery Coverage
Since opening its first location in Tokyo's Minato Ward in October 2025, Kiviaq has partnered with 50 medical institutions and four online care platforms. Its same-day delivery area now spans 18 wards, with the fastest 30-minute service covering Chiyoda, Chuo, and Minato and a two-hour tier serving eight additional wards. The company reports an 80 percent repeat rate within its own delivery zones and prescription volumes roughly ten times higher than at launch.
Why Pharmacy Access Must Change
An aging society is expanding medical needs while the supply of healthcare workers continues to shrink. Kiviaq says 90 percent of patients hold some dissatisfaction with traditional pharmacy visits, citing movement, waiting time, stockouts, and privacy concerns. The company argues that relying solely on patients visiting fixed locations cannot match shrinking supply with rising demand.
Technology and Pharmacist Workload
Kiviaq uses proprietary systems to track prescription and dispensing trends in real time, similar to how retailers use point-of-sale data. High-demand medicines are placed at frontline Kiviaq Pharmacy locations, while low-frequency drugs are managed at a central dispensing hub. This structure also reduces inventory management and packaging workloads, allowing pharmacists to focus on patient counseling and in-person care.
Hub and Spoke Expansion Plans
The company plans to accelerate a hub-and-spoke network centered on the Tokyo metropolitan region, with central dispensing hubs acting like commercial kitchens. These hubs will handle inventory and medication preparation while surrounding Kiviaq Pharmacy locations manage patient access. Kiviaq also intends to support local pharmacies with logistics, supply chain management, and systems to improve access in regional cities.
Investor and Leadership Perspectives
Investors highlight Kiviaq's clear solution to a structurally under-served part of healthcare and its management team's operational experience. Coral Capital notes that Japan's roughly 8 trillion yen insurance dispensing market remains highly fragmented and ripe for reform. Spiral Innovation Partners adds that pharmaceuticals are the most likely category beyond food where quick delivery can become established.
Founder and CEO Shun Okada said that in about one year since the seed round, the company has turned its concept into a working service with patients and medical partners. The pre-Series A funding will be concentrated on opening a second location and strengthening the systems that support operations. He added that the goal is to build a pharmacy network that removes common medication burdens for more areas.
Kiviaq's pre-Series A round positions the company to expand a pharmacy model that blends quick delivery with professional pharmacist care. With new shareholders and a growing delivery footprint, the company is moving toward a more data-driven pharmaceutical supply chain. Its progress will be measured by how effectively it reduces access barriers while maintaining safety, patient trust, and operational sustainability.