Why We Invested in Mofuku Rescue: The Story of How 'Unmanned' Became the Ultimate UI, Not Just a Cost Saver

Angel Round Inc. (Headquarters: Tokyo, Representative Director General Partner: Takumi Ogoshi, hereinafter "Angel Round") announced its participation in the Series A round (totaling approximately 500 million yen) for Mofuku Rescue Inc. (Headquarters: Shibuya-ku, Tokyo, Representative Directors: Yusuke Goto / Yuma Nagae), the operator of the 24-hour unmanned mourning attire rental service "Mofuku Rescue." This announcement was made on July 8, 2026.

Click here for Mofuku Rescue Inc.'s press release:

Mofuku Rescue Raises Approximately 500 Million Yen in Series A Funding

~ Aiming to Build Social Infrastructure to Support Sudden Bereavements, Accelerating Multi-Store Expansion and Product Development to Become One of Japan's Largest Unmanned Mourning Attire Rental Services ~

URL: https://prtimes.jp/main/html/rd/p/000000017.000112962.html

This release is not a standard investment announcement; instead, we will explain the background of our investment decision from the perspective of our representative, Takumi Ogoshi.

Mourning Attire: The World's Most "Unwanted" Product

Mourning attire is a peculiar commodity.

Few people want to buy it, yet the occasions to wear it are increasing. Mofuku Rescue estimates that by 2038, the annual demand will reach approximately 56 million instances.

*Quoted from Mofuku Rescue Inc.'s press release.

What's more distinctive is the structure of its demand. For individuals, news of a death is completely unpredictable. However, for society as a whole, the demand is consistently stable. We believe it is one of the few commodities with a demand structure similar to insurance: "No one knows when it will be needed, but someone always needs it."

We have long defined and invested in companies that achieve early business independence and grow on a foundation of profit as "Solid Ventures." Our encounter with Mofuku Rescue was precisely what this concept attracted.

An Encounter Sparked by an Inquiry

Our connection with the company began with an inquiry through our corporate website. The message from co-founder Yuma Nagae read:

"We resonate with your concept of Solid Ventures and are considering pursuing non-linear growth through equity financing while maintaining profitability."

This indicated a company with a solid revenue base already considering equity as an option for further advancement. By consistently communicating our "Solid Venture" concept, we were able to meet a company operating a business that embodies that very concept.

"No Need to Force Fundraising"

During our first meeting, Ogoshi conveyed:

"Your business is already viable as it is, so continuing with self-funding is also a valid path, allowing you to maintain management flexibility. On the other hand, if you wish to rapidly expand to multiple stores and spread this culture, external funding can be used to accelerate growth. However, this also carries the risk of accepting the fund's intentions."

Equity financing is not an obligation, but one of several options. This has been our consistent stance.

After that, there was about a month of no contact, but suddenly the company reached out. After extensive discussions between the co-founders, they themselves concluded to "grow through equity finance," and organizational changes, preparations for new stores, and several alliances were already in motion.

This speed of decision-making and the precision of execution are not just at this point in time; they are evident every month, and we believe all members, including the management team, form a strong company.

Furthermore, this business is not just a whim. The founders have experienced launching and failing multiple businesses before this one. Before creating Mofuku Rescue stores, they conducted interviews with users and started with hand-to-hand delivery at train stations to confirm demand before establishing physical stores.

This is the very definition of a Solid Venture, built on a foundation of accumulated verification rather than hypotheses.

"24-Hour Unmanned Stores": An Invention of UI, Not Cost Reduction

In the retail and service industries, the common wisdom is that customer service should be as attentive as possible. Therefore, unmanned operations are often seen as a "compromise for cost reduction."

However, the reality of bereavement is different.

News of death often arrives late at night, and those in the midst of grief do not wish to be attended by staff while trying on mourning attire. Store hours, face-to-face service, and delivery lead times – the "attentiveness" of existing services becomes a burden to the user in this context.

Being able to choose and take home attire privately, 24 hours a day, without worrying about anyone else.

In this market, "unmanned" is not an abandonment of customer service, but the deepest form of hospitality. The company itself, in its founding story, explains the reason for unmanned stores as not only "to accommodate late-night and early-morning visits" but also from the desire for customers to try on clothes freely without concern for staff presence.

I personally used Mofuku Rescue's service at one of their stores and found that despite being unmanned, the operation was meticulous in every detail. Many words of gratitude were written in the user notebooks provided at each store.

In fact, 92% of users visit the store on the same day they reserve or the next day (according to the company).

Receiving news of a death late at night and renting mourning attire at the store the next morning to attend the funeral – this compression of time is the reality of bereavement, and it represents demand that existing service designs could not accommodate.

The "Mofuku Rescue" business was born from the founders' personal experiences – "received news of a death but had no mourning attire, stores were expensive and closed after work, online rentals wouldn't arrive in time for the funeral" – and the combination of "24 hours x unmanned x try-on." We believe this business is the structural, singular solution in this market.

Mourning Attire Demand is Not "One-Time"

There is another structure that many people overlook.

In Japan, mourning rituals do not end in a single day. There is the 49th-day memorial, and the first anniversary. Mourning attire, as a commodity, has opportunities for continued use in the form of a calendar of ceremonies.

The origin of this service itself was like that.

Co-founder Yusuke Goto, in his founding story, recounts his own experience when his grandfather passed away: the mourning attire he took from his closet no longer fit due to changes in his body shape. Even people who "own" mourning attire may find it unusable on the day if their size has changed or if it has been poorly stored.

The true target market for this service is not "people who don't own mourning attire," but "people who don't have mourning attire they can wear tonight." When viewed this way, the market appears very different.

As a Pioneer, It Can Involve the Industry

As a pioneer in unmanned mourning attire rental, Mofuku Rescue is collaborating with major industry players such as Hakuyosha Co., Ltd. for cleaning and Tokyo HAKUSEN for funeral hall operations.

As a first mover, existing industry players are not competitors but are being integrated as supply chains and customer referral networks. We see this as a company not just increasing stores, but actively creating a new category: "infrastructure to support sudden bereavements."

We Hope That Day Never Comes...

Mofuku Rescue is an ideal form of "Solid Venture" as we envision it: generating profit and then accelerating growth through capital.

Ideally, this service would never be needed. However, if that day does come, please remember Mofuku Rescue.

We will continue to support their challenge to spread the peace of mind – knowing there is a reliable place to turn to, without hesitation or panic – across the nation.

【Mofuku Rescue Inc.】

Location: 4F, Create Yoyogi, 2-39-10 Yoyogi, Shibuya-ku, Tokyo

Representatives: Yusuke Goto / Yuma Nagae

Established: November 2022

Corporate Site: https://mofuku-rescue.co.jp/

Service Site: https://mofuku-rescue.com/

Since December 2022, the company has operated "Mofuku Rescue," Japan's first (※company research) unmanned mourning attire rental service. Mourning attire can be tried on and rented at stores available 24 hours a day (excluding some locations). As of July 2026, the company operates 22 stores nationwide, achieving approximately a sevenfold increase in stores over two years.

【Angel Round Inc.】

Location: 6F, Ikebukuro Duplex Biz, 2-40-13 Higashi-Ikebukuro, Toshima-ku, Tokyo

Representative: Representative Director General Partner Takumi Ogoshi

Corporate Site: https://angel-round.com/

Related Media: https://solid-ventures.media/

The fund we manage operates under a "Early Investment x Minimal Fund Size" concept, enabling startup entrepreneurs to pursue diverse career paths and exit options, focusing not only on IPOs but also on small exits. In the past, startup investments primarily targeted IPOs or large M&A deals. Our fund aims to allow our portfolio companies to consider small exits alongside IPO aspirations.

For details, please refer to the following press release:

https://prtimes.jp/main/html/rd/p/000000001.000126206.html

We specialize in investing in "Solid Ventures." While many VC funds invest in startups following a J-curve model, there are very few VC funds that invest in companies already generating sales or profits, even if modest. Our fund's policy is to support Solid Ventures that possess robust businesses while continuously exploring new challenges.

【Inquiries Regarding This Matter】

Angel Round Inc. (Contact: Ogoshi)

Contact: [email protected]