Mu

What Mu does

Muz Ltd. (株式会社ミュー) is a Japanese privately-held medical device company founded in March 2011 by Naotake Ohtsuka (PhD in Engineering, University of Tokyo; Professor Emeritus at Ryukoku University) and headquartered in the BKC Ritsumeikan University incubator in Kusatsu, Shiga Prefecture. The company develops the MiniMermaid Self-Propelled Compact Capsule Endoscopy System (SPCE), a disposable capsule endoscope that uses an externally applied alternating magnetic field to vibrate a small internal magnet attached to a silicone fin, generating propulsive thrust that allows a clinician to steer direction and speed via joystick in real time. Unlike passive capsule endoscopes limited to small-intestine or colon-only imaging, MiniMermaid is designed to examine the esophagus, stomach, duodenum, small intestine, and colon in a single painless procedure without sedation. Muz holds a Second-Class Medical Device Market Authorization Holder license (No. 25B2X10013, March 2023) and Medical Device Manufacturer Registration (No. 25BZ200078), and has completed 30 human clinical trial runs validating the technology in collaboration with Osaka Medical College and Ryukoku University. Muz generates revenue (where it exists at all) primarily through research-and-development-oriented sales of capsule endoscopy systems to medical colleges, with secondary monetization pathways under exploration in wind power systems, life/health/education products, and technical consulting services. The company is targeting either a Tokyo Stock Exchange Growth Market listing or an M&A exit by 2027-28, supported by a planned 100 million yen third-party allotment to approximately 190 listed corporate partners, and is currently pre-commercial with no disclosed product revenue.

Name

Mu

Legal name

株式会社ミュー

Website

https://mu-frontier.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Muz Ltd. is a Japanese pre-commercial medical device company developing the MiniMermaid self-propelled capsule endoscope, which uses magnetic-field propulsion to enable joystick-controlled, painless examination of the entire GI tract, sold primarily to medical college research partners.

Ownership category

akta.pro rank

Product category

Medical Devices — Capsule Endoscopy Systems

NAICS

Surgical Appliance and Supplies Manufacturing (339113), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Endoscopy Systems & Accessories (Scopes, Cameras, Light Sources, Insufflation) (HLAHADAB)

akta.pro secondary industries

Endoscopic Therapeutic & Access Devices (Trocars, dilators, biopsy/ablation tools) (HLAHADAN), Advanced Endoscopy (ERCP/EUS/Interventional) (HLAKAEAC), Endoscopy & GI Procedure Centers (HLAFAIAE)

Keywords

• Capsule endoscopy systems
• Self-propelled medical devices
• Magnetic field propulsion
• Gastrointestinal diagnostics
• Micro-machine medical technology

Headquarters

HQ city

Kusatsu

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain, Others

Revenue model

1. Self-Propelling Capsule Endoscope Development and Sales: Development, manufacturing and sales of self-propelling capsule endoscope systems and micro-machines for medical applications. The company holds medical device manufacturing registration and second-class medical device market authorization.
2. Wind Power Generation Systems: Development, manufacturing and sales of new types of wind power generation and energy-related systems.
3. Life, Health and Education Products: Development, manufacturing and sales of goods and products related to life, health and education.
4. Technical Consultation Services: Technical consultation services for industrial companies, leveraging wide-ranging mechanical engineering expertise.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Mu Ltd. develops and manufactures the MiniMermaid self-propelled compact capsule endoscopy system, which uses magnetic field control technology to enable doctors to remotely steer a disposable capsule endoscope through the entire gastrointestinal tract via joystick. The company also produces a swimming mini drone applying the same magnetic propulsion technology for rehabilitation and educational purposes.

Product overview

MU Ltd. offers a portfolio of self-propelling capsule endoscopy systems centered on the MiniMermaid product line. The core product is a compact capsule endoscope (12mm diameter, 45mm length) that uses magnetic field propulsion to move autonomously through the digestive tract. The portfolio includes the compact MiniMermaid with integrated propulsion, and the original fin-attached MiniMermaid variant. Both enable doctors to remotely control direction and speed via joystick while viewing real-time endoscopic images, allowing painless examination of the entire GI tract. The company also applies the underlying magnetic propulsion technology to a swimming mini drone product for rehabilitation and educational use.

Differentiator

Problem solved

Functional benefit

Products and services

• MiniMermaid with Fin (Self-Propelled Capsule Endoscopy System with Fin) The original self-propelled capsule endoscope system with a silicone fin containing a small magnet. Fluctuating magnetic fields cause the fin to vibrate, propelling the capsule like a swimming fish. Doctors control direction and velocity via joystick while viewing real-time endoscopic images, enabling controlled movement through the digestive tract.
• MiniMermaid (Self-Propelled Compact Capsule Endoscopy System) A compact (12mm diameter, 45mm length) disposable capsule endoscope with integrated magnetic-field propulsion that moves autonomously through the digestive tract. Doctors remotely control direction and speed via joystick while viewing real-time images, enabling painless examination of the esophagus, stomach, duodenum, small intestine, and colon in a single procedure without sedation. Sold to hospitals, clinics, and medical colleges for gastroenterological screening.
• Swimming Mini Drone An aquatic mini robot applying the MiniMermaid magnetic propulsion technology for underwater 3D spatial swimming. Available in mermaid or goldfish designs, controlled via joystick in a 3D labyrinth mechanism. Used for rehabilitation, amusement, and educational purposes.

Quantifiable outcome

• Painless examination of entire GI tract without sedation
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Organization for Small & Medium Enterprises and Regional Innovation, Japan (SMRJ)coreStrategic or Co-development Partner · 9 October 2024Government-backed SME support organization operating business incubator facilities. Selected as one of 30 companies for joint booth at BioJapan 2024. Provided incubator facilities at Ritsumeikan University BKC campus. Supports new business development through comprehensive SME policy implementation under METI.
• MedTech ActuatorminorStrategic or Co-development Partner · 13 October 2022Australia-based medical technology accelerator. Partnered through Global Navigator Japan program with JETRO, Osaka Chamber of Commerce and Industry, and Osaka Business Development Agency. Provides overseas regulation information, hospital visits, and investor networking for Asia-Pacific market expansion.
• HAX TokyominorStrategic or Co-development Partner · 25 December 2020Hardware-focused accelerator program in Japan. Selected as one of 3 startups for Batch 3. Provides hardware development resources, world-leading experts, and connections to Sumitomo Corporation partners. Completing program satisfies first condition for joining HAX Shenzhen and San Francisco programs.
• Tech Planter BostonminorStrategic or Co-development Partner · 3 October 2018International seed acceleration program for deep-tech startups. Invited to participate by Lively Works. Provides networking sessions with Boston's largest incubator CIC, VC meetings, and connection building with investors and community.
• JETRO (Japan External Trade Organization)minorStrategic or Co-development Partner · 8 September 2018Government-backed trade organization. Adopted for JETRO Innovation Program (JIP) for global commercialization of intellectual properties. Participated in Shenzhen program for pitch events, mentoring, and China market expansion support.
• Osaka Medical CollegecoreStrategic or Co-development Partner · 21 June 2011Long-term research collaboration (approximately 8 years) with Prof. Kazuhide Higuchi's team from 2nd Department of Internal Medicine. Jointly conducted human clinical trials for self-propelling capsule endoscope. Co-presented successful results of stomach and colon observation at June 21, 2011 press conference. Continued collaboration on clinical validation and system improvement.
• Ryukoku UniversitycoreStrategic or Co-development Partner · 21 June 2011Academic partnership with Department of Mechanical and Systems Engineering under Prof. Hironori Nishihara and Lecturer Yasunori Shindo. Contributed to technical development of SPCE magnetic propulsion system. Provided initial incubation at REC Hall from 2011-2022. Home university of CEO Naotake Ohtsuka.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Medtronic: Global medtech incumbent and owner of the PillCam capsule endoscopy franchise. Directly comparable as a capsule endoscopy company targeting GI diagnostics, but operates as a diversified device giant with vastly larger clinical evidence, sales infrastructure, and R&D budget than Mu.
• Fujifilm Healthcare: Major endoscopy and medical imaging systems provider with a capsule endoscopy portfolio (formerly Given Imaging's competitor products) and broad hospital sales channels in Japan. Comparable in product category and Japanese market overlap.
• Olympus Corporation: Japan-headquartered global leader in flexible endoscopy systems and the dominant conventional endoscopy player. Relevant as a direct customer-overlap competitor and a likely strategic acquirer of capsule endoscopy IP; shares Mu's Japanese institutional customer base.

Emerging players

• Check-Cap: Israeli developer of an ingestible capsule for colorectal cancer screening using X-ray-based imaging. Comparable as a capsule-based GI diagnostic company pursuing novel imaging modalities; shares the small, pre-commercial medical device profile with Mu.
• AnX Robotica: Developer of the NaviCam magnetically-controlled capsule endoscopy system, which uses an external magnet for stomach examination. Directly comparable on the magnetic-control capsule concept, though AnX has pursued US commercialization more aggressively than Mu.

Direct peers

• CapsoVision: US-based developer of the CapsoCam 360 capsule endoscope for small bowel imaging. Closely comparable as a capsule endoscopy specialist targeting GI diagnostics, though CapsoVision focuses on 360-degree passive imaging rather than active propulsion.
• IntroMedic: Korean developer of the MiroCam capsule endoscopy system and a focused capsule endoscopy competitor. Directly comparable product category, target market (GI diagnostics), and stage as a non-incumbent specialist in the same niche as Mu.

Regional players

• Jinshan Science & Technology (Jiangsu): Chinese developer of the OMOM capsule endoscopy system. Comparable as a regional capsule endoscopy player targeting the China market; overlaps with Mu in product category but does not directly compete in Japan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=OQdjNk9KkyU

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mu