Mujin, the Tokyo-born robotics software company, is setting its sights on a public listing by 2030 as it races to build fully autonomous factory robots. The company, which spun out of the University of Tokyo in 2011, has quietly become one of the most well-capitalized startups in Japan, and it’s now positioning itself to ride a wave of industrial AI demand.

The money trail

Mujin closed the first tranche of its Series D funding on December 2, 2025, pulling in $233 million. That round breaks down into $133 million in equity, led by NTT Group alongside Qatar Investment Authority, and $100 million in debt financing.

The Series D pushed Mujin’s total fundraising to $411 million. Other notable backers include Pegasus Tech Ventures, Accenture, and Mitsubishi HC Capital.

Mujin has earned the distinction of being Japan’s top-funded startup in 2025. Secondary trading of Mujin’s stock is already happening through pre-IPO share platforms.

What Mujin actually builds

The company’s flagship product is MujinOS, a no-code platform designed for factory and warehouse automation. It lets manufacturers set up robotic systems for tasks like palletizing, picking, motion planning, and fleet coordination without needing to write a single line of code.

Mujin’s target for 2030 is full robot self-driving capability in factory environments.

What this means for investors

Mujin has shown zero interest in the digital asset space. The $411 million Mujin has raised represents a meaningful data point about where sophisticated investors, including sovereign wealth funds like Qatar Investment Authority, are placing their bets.

The 2030 IPO timeline also matters. Secondary market activity already suggests that early investors are pricing in substantial upside.

Mujin’s decision to pursue a traditional IPO rather than any alternative listing mechanism or tokenized equity structure reinforces its positioning as a conservative, fundamentals-driven company.