SoftBank Group Corp. (SBG) announced that Rajeev Misra will step down from the position of Corporate Officer and Executive Vice President of SBG, effective from August 31, 2022. Misra will continue to serve as CEO of SB Investment Advisers which manages SoftBank Vision Fund 1, a statement said. Rajeev was previously a Senior Managing Director…
SoftBank Group Corp. (SoftBank) announced that Alex Clavel, currently Managing Partner at SoftBank Group International (SBGI), has been appointed as Chief Executive Officer of SBGI, effective June 30, 2022. Clavel will succeed Michel Combes, who has decided to leave SoftBank to pursue new opportunities. Clavel will bring seven years of leadership experience at SoftBank across…
Pismo, the cloud-native core banking and payments platform, has announced the signing of a $108 million Series B fundraising round, led by SoftBank Latin America Fund, Amazon and Accel with participation from B3, Falabella Ventures and PruVen and existing investors and Headline and Redpoint eventures. The funding will fuel the company’s global expansion and accelerate…
IoT Carrier 1NCE has announced $50M in financing. The capital is provided by investors including Deutsche Telekom, SoftBank, and other investors. 1NCE offers cellular device connectivity at a fixed price in over 100 countries via 2G, 3G, 4G, 5G, NB-IoT and LTE-M. 1NCE will use the fresh capital to accelerate international expansion and fuel growth…
The US-India Strategic Partnership Forum (USISPF) has announced that six new business and former government leaders have been inducted into the Washington, D.C.-based advocacy group that champions stronger US-India bilateral commercial and strategic ties. The new leaders have joined as members of the USISPF Board of Directors, Advisors to the Board, and members of the…
SoftBank Group Corp. has announced that it has entered into a strategic partnership and equity share swap agreement with Deutsche Telekom AG. Under the strategic partnership between the two companies, SoftBank’s more than 300 portfolio companies gain access to an additional, approximately 240 million DT customers across Europe and the US, providing these portfolio companies…
Juniper Networks, a provider of secure, AI-driven networks, has announced that it has joined the Softbank 5G Consortium established by Softbank Corp. as a founding member, having been named as a 5G-related partner. A statement said, “As long-time partners, Juniper Networks and Softbank have journeyed and grown together over the years into the 5G era.…
ShipBob, a cloud-based logistics platform, has announced $200 million in funding, achieving unicorn status with their valuation more than doubling since their Series D round in September 2020. ShipBob is designed for small and medium-sized ecommerce businesses, providing them with fulfillment capabilities. The Series E financing was led by Bain Capital Ventures, who led ShipBob’s…
Hyundai Motor Group (the Group), Boston Dynamics, Inc. and SoftBank Group Corp. (SoftBank), announced the completion of the Group’s acquisition of a controlling interest in Boston Dynamics from SoftBank, following the receipt of regulatory approvals and other customary closing conditions. The deal valued the mobile robot firm at $1.1 billion. Additional financial details were not disclosed. Post-closing,…
Alodokter, a digital health platform in Indonesia, has raised additional funding from MDI Ventures, a subsidiary of Telkom group and Samsung Ventures Investment Corporation (Samsung Ventures). Alodokter has raised significant funding since 2019, from investors such as Softbank Ventures, Sequis, Golden Gate Ventures, Philips, Heritas and Hera Capital. Alodokter will use the funding to continually expand…
Banking tech startup Zeta has announced that it has secured $250 million in investment from SoftBank Vision Fund 2. This Series C investment values Zeta at $1.45 billion. With this investment, Zeta becomes the latest entrant to the unicorn club. “Most banks are using decades old software built when Mainframes and Cobol were in vogue.…
Adapdix Corporation, the digital transformation provider of Edge AI automation and intelligent control software, has announced that it has received funding from SoftBank’s Opportunity Fund, pushing the total investment amount secured by Adapdix up to $10 million. The new funds will be used to build the next generation Artificial Intelligence (AI) platform for the edge.…
OneWeb, the Low Earth Orbit (LEO) satellite communications company jointly owned by the UK Government and Bharti Global, has secured additional funding from SoftBank Group Corp. and Hughes Network Systems LLC, bringing OneWeb’s total funding to $1.4 billion. The capital raised to date positions the Company to be fully funded for its first-generation satellite fleet,…
Softbank-backed hospitality firm Oyo has raised Rs 54 crore from Hindustan Media Ventures as part of Series F1 round, according to a regulatory filing by the company. Hindustan Media Ventures Ltd subscribed to 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) of the face value of Rs 100 each for cash at…
SoftBank-backed Creditas has landed $255 million in its latest funding round. The firm plans to utilise the funds raised to finance expansion globally and to augment loan book growth. With valuation of $1.75 billion, the lending firm’s fifth financing round was led by LGT Lightstone, Tarsadia Capital, e.ventures, Wellington Management, and Sunley House Capital along with…