WAKA (ex-EbuAction) raises ¥250M Series A to bring Japanese IP to Roblox
What's the deal? Japanese startup EbuAction has rebranded as WAKADealroom has a profile for this one. Try Dealroom → and raised ¥250 million to help Japanese brands and intellectual properties reach global audiences through Roblox. Spiral CapitalDealroom has a profile for this one. Try Dealroom → led the round, with Mitsubishi UFJ CapitalDealroom has a profile for this one. Try Dealroom →, Samurai IncubateDealroom has a profile for this one. Try Dealroom →, UnitedDealroom has a profile for this one. Try Dealroom →, and F VenturesDealroom has a profile for this one. Try Dealroom → also participating.
The company operates two lines of business on Roblox: branded entertainment — building games for companies to reach Gen Z and Gen Alpha — and content production, where it acquires, licenses, and publishes games based on Japanese IP. It has already worked with clients like NTT Docomo and Asahi Beverages.
Why now? Unofficial content based on Japanese anime and gaming IPs already dominates Roblox's revenue rankings. WAKA sees an opening to produce official, licensed alternatives through acquisitions and publishing deals — several projects involving popular anime IPs are already underway.
Yoichi Wada, former chief executive officer of Square EnixDealroom has a profile for this one. Try Dealroom →, has joined as a personal shareholder, adding gaming industry credibility. Hiroki Yamamoto from Spiral Capital praised the "tremendous potential in combining Roblox's engaging platform with Japan's rich IP assets."
What could go wrong? WAKA's strategy depends heavily on a single platform. Any changes to Roblox's economics, policies, or popularity could undermine the business. Securing official IP deals with major anime rights holders is also notoriously complex and slow in Japan.
The company faces competition from both unofficial creators who already hold audience attention and larger publishers that may pursue similar strategies as the opportunity becomes clearer.
The signal: WAKA's investor syndicate — spanning dedicated funds like Spiral Capital and Samurai Incubate alongside corporate backer UNITED — underscores institutional confidence that Japanese IP monetisation on user-generated platforms is a distinct, investable category. With unofficial anime content already topping Roblox's revenue charts, the gap between audience demand and licensed supply represents a clear commercial opportunity, and the involvement of former Square Enix chief executive officer Yoichi Wada suggests rights holders may finally be ready to engage.
Read more: third-news.com
