# Luup
Luup, Inc. (株式会社Luup, ループ) is a Tokyo-based shared micromobility company founded in 2018 by [Daiki Okai](https://www.edgepedia.org/daiki-okai) (岡井大輝) that operates the LUUP service for electric kickboards and electric-assist bicycles across a port network it describes as one of Japan's largest. As of November 2025 the company reported more than 15,500 ports and over 5 million app downloads.[1](https://luup.sc/news/2025-11-27-fundraising/) Its stated mission is "turning the whole city into a station front" (街じゅうを「駅前化」する).[2](https://luup.sc/news/2023-07-01-law-revision/)
| Fact | Detail |
|---|---|
| Founded | 2018, by Daiki Okai and five university classmates[3](https://que.dailyshincho.jp/node/18213/) |
| Services | Shared electric kickboards and electric-assist bicycles under the LUUP brand[4](https://openers.jp/en/lounge/lounge_features/Ll68R) |
| Scale (Nov 2025) | 15,500+ ports; 5M+ app downloads; ~40,000 vehicles[1](https://luup.sc/news/2025-11-27-fundraising/) • [5](https://www.nikkei.com/article/DGXZQOUC253WF0V21C25A1000000/) |
| Cumulative funding | ~¥21.4 billion (November 2025)[1](https://luup.sc/news/2025-11-27-fundraising/) |
| Regulatory context | July 1, 2023 road traffic law revision created a license-free e-kickboard category[2](https://luup.sc/news/2023-07-01-law-revision/) |
| FY June 2025 net loss | ¥2,752 million; equity ratio 3.37%[6](https://compalyze.co.jp/company/1011001123515) |
| Competition | Lime and HELLO CYCLING formed an alliance in September 2025 against Luup's 44.0% usage share[7](https://dime.jp/genre/2045370/) |
## Founding and background
Daiki Okai graduated from the [University of Tokyo](https://www.edgepedia.org/university-of-tokyo)'s Faculty of Agriculture and worked at a strategy consulting firm on post-merger integration and business due diligence before founding Luup in 2018 at age 25.[8](https://www.smfg.co.jp/english/dx_link/article/0115.html) • [9](https://www.nikkei.com/article/DGKKZO72525680W3A700C2EAC000/) He founded the company with five university-circle classmates, and the first business was a caregiver dispatch service.[3](https://que.dailyshincho.jp/node/18213/) An earlier care-worker-hailing app idea showed Okai that in Japan's rail-centric society a short-distance transport infrastructure was needed first.[10](https://diamond.jp/articles/-/357428)
In May 2019 Okai established and became chair of the Micromobility Promotion Council, a body spearheaded by Japan's main e-scooter operators.[8](https://www.smfg.co.jp/english/dx_link/article/0115.html) The LUUP sharing service began in May 2020 in Tokyo with about 50 ports offering only electric-assist bicycles.[4](https://openers.jp/en/lounge/lounge_features/Ll68R) From 2019 Luup ran electric kickboard demonstration experiments at more than 30 private and public sites nationwide, began public-road experiments in 2020, and launched kickboard sharing in April 2021 under a government-related rule-making experiment.[2](https://luup.sc/news/2023-07-01-law-revision/) Forbes selected Okai for its 30 Under 30 Asia list in April 2021.[11](https://prtimes.jp/main/html/rd/p/000000082.000043250.html)
## Business model and the port network
Luup uses a designated-port model rather than the street free-floating model common overseas: vehicles are picked up and returned at fixed parking stations, with data-driven placement, charging operations, and dynamic pricing.[11](https://prtimes.jp/main/html/rd/p/000000082.000043250.html) Japanese regulations require e-scooter riders to park in designated charging ports, which slows would-be competitors such as Lime and Bird, who would need months or years to negotiate ports with landlords and municipalities.[12](https://www.japantimes.co.jp/business/2023/11/13/companies/japan-e-scooter-startup/)
The network is dense by design. In January 2023, in most parts of Tokyo no more than a two-minute walk separated ports.[8](https://www.smfg.co.jp/english/dx_link/article/0115.html) The average ride lasts about 7 minutes, mostly covering 1–2 km trips, compared with 15–30 minutes typical for share cycles.[13](https://www.businessinsider.jp/article/269157/) This positioning targets short-distance gaps between home and rail stations. Daily-use trips such as commuting, school, and shopping account for over 80% of rides.[14](https://forbesjapan.com/articles/detail/75093)
## Funding, investors and ownership
Luup's funding grew in successive rounds. An early profile recorded ¥900 million raised, including ¥449 million from ENEOS, and [Obayashi](https://www.edgepedia.org/obayashi).[15](https://www.forbes.com/profile/daiki-okai/) A Series B extension brought about ¥2 billion from investors including Mori Trust and [Daito Trust Construction](https://www.edgepedia.org/daito-trust-construction).[11](https://prtimes.jp/main/html/rd/p/000000082.000043250.html) In April 2023 Luup raised $30 million (¥4.5 billion) in a Series D of ¥3.8 billion equity and ¥700 million debt, lifting cumulative financing to about ¥9.1 billion; subscribers included Spiral Capital, ANRI, SMBC Venture Capital, and Mitsui Fudosan's CVC 31ventures.[13](https://www.businessinsider.jp/article/269157/) • [16](https://techcrunch.com/2023/04/26/luup-raises-30m-ahead-of-japans-new-micromobility-rules/) In November 2023 it secured ¥3.6 billion, almost 70% through a syndicated loan led by Sumitomo Mitsui Banking, bringing the total to ¥12.7 billion ($83.6 million).[12](https://www.japantimes.co.jp/business/2023/11/13/companies/japan-e-scooter-startup/)
Debt became a larger component. In October 2024 Luup raised ¥3.0 billion in debt, of which ¥1.5 billion was a green syndicated loan arranged by SMBC, the first green-loan financing in Japan's micromobility industry, with further loans from Mizuho Bank (¥1.0 billion) and [Aozora Bank](https://www.edgepedia.org/aozora-bank) (¥0.5 billion); cumulative funding reached about ¥16.6 billion.[17](https://prtimes.jp/main/html/rd/p/000000337.000043250.html) In November 2025 it raised ¥4.4 billion: ¥2.9 billion in equity taken by Toho Gas, SMBC Venture Capital, and others, plus ¥1.5 billion borrowed from Mizuho Bank, and others, for a cumulative total of about ¥21.4 billion.[1](https://luup.sc/news/2025-11-27-fundraising/) • [5](https://www.nikkei.com/article/DGXZQOUC253WF0V21C25A1000000/) Other equity subscribers included MLC Ventures (Mitsubishi [Logistics](https://www.edgepedia.org/logistics)' CVC), Osaka Metro, and the Shin Infrastructure Fund by TOHO GAS, a ¥5 billion corporate venture fund established in December 2024.[1](https://luup.sc/news/2025-11-27-fundraising/) • [18](https://www.tohogas.co.jp/corporate-n/press/1255423_1342.html)
Strategic investors carry port access. Osaka Metro investment came with plans to install ports at all 109 of its stations and link the two companies' apps.[5](https://www.nikkei.com/article/DGXZQOUC253WF0V21C25A1000000/) Toho Gas plans to consider using its sites and idle land in Aichi, Gifu, and Mie prefectures as Luup ports.[18](https://www.tohogas.co.jp/corporate-n/press/1255423_1342.html) On listing, CFO Satoshi Mukoyama said in November 2023 that the company was emerging from a loss-making phase and "making preparations so we can go public", without a time frame.[12](https://www.japantimes.co.jp/business/2023/11/13/companies/japan-e-scooter-startup/)
## Scale and operations
Port growth accelerated sharply. The service ran about 50 ports in 2020, about 6,000 by January 2023 in eight areas ([Tokyo](https://www.edgepedia.org/tokyo-ep6jg0kyrw), Osaka, Kyoto, Yokohama, Nagoya, Kobe, Hiroshima, and [Utsunomiya](https://www.edgepedia.org/utsunomiya)), over 10,000 by October 2024, the most in Japan's shared micromobility industry, and more than 15,500 by November 2025.[4](https://openers.jp/en/lounge/lounge_features/Ll68R) • [8](https://www.smfg.co.jp/english/dx_link/article/0115.html) • [10](https://diamond.jp/articles/-/357428) • [17](https://prtimes.jp/main/html/rd/p/000000337.000043250.html) • [1](https://luup.sc/news/2025-11-27-fundraising/) The port count grew between May 2023 and October 2024, aided by capital participation from major companies such as Tokyu and Seibu Railway.[10](https://diamond.jp/articles/-/357428)
The fleet grew to about 30,000 vehicles across 11 areas by 2024, with over 3 million cumulative app downloads.[14](https://forbesjapan.com/articles/detail/75093) Nikkei reported roughly 40,000 vehicles in November 2025;[5](https://www.nikkei.com/article/DGXZQOUC253WF0V21C25A1000000/) an undated CEO interview in Shinchosha QUE put the fleet at about 50,000, half electric-assist bicycles and half kickboards.[3](https://que.dailyshincho.jp/node/18213/) App downloads passed 5 million by November 2025.[1](https://luup.sc/news/2025-11-27-fundraising/) Luup entered Sapporo in July 2025, extending coverage to cities nationwide.[19](https://kepple.co.jp/articles/poop2izdeb)
## Regulation and the 2023 traffic law change
In 2002 Japan's National Police Agency classified e-scooters as motorized bicycles, requiring a driver's license and helmet, which made sharing services unsuitable.[20](https://gerpisa.org/node/7989) A revised road traffic law creating a new [vehicle category](https://www.edgepedia.org/vehicle-category) for electric kickboards passed the Diet on April 19, 2022 and took effect on July 1, 2023.[2](https://luup.sc/news/2023-07-01-law-revision/) The new "specified small motorized bicycle" category allows riders aged 16 and over to ride without a license at a maximum speed of 20 km/h.[2](https://luup.sc/news/2023-07-01-law-revision/) • [13](https://www.businessinsider.jp/article/269157/) From April 2023 helmet wearing became an effort-based duty for bicycles, and it became an effort-based duty for the new electric-kickboard category when the law took effect on July 1, 2023, with Luup producing an original folding helmet in response.[2](https://luup.sc/news/2023-07-01-law-revision/) After the amendment, e-scooter sharing began diffusing in Tokyo and other cities, five years behind Western countries.[20](https://gerpisa.org/node/7989)
## Safety, violations and enforcement
[Metropolitan Police](https://www.edgepedia.org/metropolitan-police) data show 7,130 e-kickboard traffic-violation citations from July to December 2023, with December's monthly count about 4.6 times July's. The most common violation was riding on sidewalks at 48%, followed by signal violations at 38%.[21](https://www.businessinsider.jp/article/284076/) Okai said violations per ride were flat to slightly declining despite rising absolute numbers.[21](https://www.businessinsider.jp/article/284076/) Luup's responses included over 80 safety training sessions with municipalities and police in one year and, from 2024, 30-day account suspensions for repeated minor violations.[14](https://forbesjapan.com/articles/detail/75093) Nikkei reported that accident prevention remains a stated challenge, with police cooperation to share dangerous-driving information and new funds going to safety-oriented software development.[5](https://www.nikkei.com/article/DGXZQOUC253WF0V21C25A1000000/)
## How it compares with rivals
In Tokyo's 23 wards Luup had 1,950 ports, nearly matching HELLO CYCLING's 1,958 stations across Tokyo.[13](https://www.businessinsider.jp/article/269157/) An academic paper states that Luup outperforms competitors and that no other service provider is able to compete with it in central Tokyo or other metropolitan areas.[20](https://gerpisa.org/node/7989) Rivals Docomo Bike Share and Open Streets operate shared e-bikes but lack e-scooters; global operators Bird (US) and Swing (South Korea) have had limited success in Tokyo.[16](https://techcrunch.com/2023/04/26/luup-raises-30m-ahead-of-japans-new-micromobility-rules/)
The competitive picture changed in 2024–2025. Lime began its Japanese service in August 2024 and in August 2025 was first in Japan to introduce seated vehicles.[7](https://dime.jp/genre/2045370/) In September 2025 Lime and HELLO CYCLING formed a business alliance allowing users of each app to use both fleets, forming a bloc challenging Luup's leading usage share of 44.0%.[7](https://dime.jp/genre/2045370/)
## References
1. [マイクロモビリティシェアのLuup、総額44億円を調達](https://luup.sc/news/2025-11-27-fundraising/)
2. [改正道路交通法の施行を受けて、Luupの今後について](https://luup.sc/news/2023-07-01-law-revision/)
3. [創業数年の「Luup」が規制まみれの交通インフラに食い込めた理由](https://que.dailyshincho.jp/node/18213/)
4. [Behind the scenes of Luup's business acceleration](https://openers.jp/en/lounge/lounge_features/Ll68R)
5. [Luup、東邦ガスなどから44億円調達](https://www.nikkei.com/article/DGXZQOUC253WF0V21C25A1000000/)
6. [株式会社Ｌｕｕｐの会社概要・役員](https://compalyze.co.jp/company/1011001123515)
7. [シェアモビリティは戦国時代に突入！](https://dime.jp/genre/2045370/)
8. [Luup and SMBC Venture Capital: Reshaping Transport in Japan](https://www.smfg.co.jp/english/dx_link/article/0115.html)
9. [岡井大輝さん 電動キックボードシェアを展開](https://www.nikkei.com/article/DGKKZO72525680W3A700C2EAC000/)
10. [Luup社長がSNSの大炎上に反論](https://diamond.jp/articles/-/357428)
11. [Luupが森トラストやESG特化型ファンドなどから約20億円の資金調達](https://prtimes.jp/main/html/rd/p/000000082.000043250.html)
12. [E-scooter startup wins over Japanese regulators](https://www.japantimes.co.jp/business/2023/11/13/companies/japan-e-scooter-startup/)
13. [電動キックボードのLuupが45億調達](https://www.businessinsider.jp/article/269157/)
14. [Luupは「社会の公器」になれるか](https://forbesjapan.com/articles/detail/75093)
15. [Daiki Okai - Forbes profile](https://www.forbes.com/profile/daiki-okai/)
16. [Luup raises $30M ahead of Japan's new micromobility rules](https://techcrunch.com/2023/04/26/luup-raises-30m-ahead-of-japans-new-micromobility-rules/)
17. [Luup、総額30億円を調達](https://prtimes.jp/main/html/rd/p/000000337.000043250.html)
18. [「株式会社Luup」へ出資](https://www.tohogas.co.jp/corporate-n/press/1255423_1342.html)
19. [Luup、44億円を調達](https://kepple.co.jp/articles/poop2izdeb)
20. [Managing both the multi-stakeholder cooperation for a legal reform (GERPISA)](https://gerpisa.org/node/7989)
21. [歯止め効かない「電動キックボード」違反](https://www.businessinsider.jp/article/284076/)
22. [Luup、マイクロモビリティ界の「iPhone」へ](https://forbesjapan.com/articles/detail/90180)
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*Topic: Encyclopedia › Society and history › Economics and business › Founders, operators, and investors › Technology founders and companies › Asia-Pacific technology outside China › Japan and Korea internet, software, and games › Japanese internet and tech companies*
*Initially written Sep 19, 2026 · Reviewed: Sep 19, 2026; Sep 30, 2026 · Edited: Sep 30, 2026; Oct 11, 2026; Oct 21, 2026 · Last review: Sep 30, 2026*
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