KNAPP will develop an in-store eGrocery channel for Takeoff Technologies as part of a joint agreement to provide automated micro-fulfilment technology and robotics services.

KNAPP is an automated warehouse and logistics solutions provider, while Takeoff is a start-up focused on the development of micro-fulfilment solutions.

"Tay Two intends to invest the funds in its stores."

Both companies involved in the deal are based in the US.

Tay Two has announced its plans to raise JPY100m ($0.92m) by issuing 1.8 million shares priced at JPY55 ($0.5) in a private placement to YAK Corporation.

Tay Two is a Japanese retailer of books, games and compact discs, whereas YAK is a Russia-based aircraft designer and manufacturer.

Tay Two intends to invest the funds in its stores.