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Tag: softbank vision fund

Plenty Secures $140 Million from Softbank Vision Fund
FUNDING

Plenty Secures $140 Million from Softbank Vision Fund

SOUTH SAN FRANCISCO, Calif., 15th Oct 2020-- Plenty Unlimited Inc. has secured a $140 million USD Series D round, led by existing investor Softbank Vision Fund 1 and including new investor Driscoll’s, the world’s leader in fresh berries. The investment will be used to fuel Plenty’s growth, including the execution of recently announced commercial collaborations with Albertsons and Driscoll’s, and the development of its new farm in Compton, California. To date, Plenty has raised over $500 million, making it the leader in sustainable, indoor vertical farming. “In just 30 years time, the world will need 70% more food than we currently produce, requiring more efficient use of land and water,” said Jeff Housenbold, Managing Partner at Softbank Investment Advisers. “Without innovation in ...
News

SoftBank launches $100 mln fund investing in ‘people of colour’

TOKYO (Reuters) - SoftBank Group Corp is launching a $100 million fund to invest in “companies led by founders and entrepreneurs of colour”, in the latest corporate action as protests roil the United States. Described as SoftBank’s bid to improve diversity, “we have to put money behind it, set plans, and hold ourselves accountable,” SoftBank’s Chief Operating Officer Marcelo Claure, who will head the fund, wrote in a letter to employees on Wednesday. Named the “Opportunity Growth Fund” and focused on African Americans and Latinos in the U.S. it is, SoftBank says, the largest fund of its kind. It will invest in entrepreneurs “from communities that face systemic disadvantages in building and scaling their businesses,” Claure wrote. SoftBank also runs the $100 billion Vision Fund...
Energy Vault Raises $110 Million From Softbank Vision Fund
FUNDING

Energy Vault Raises $110 Million From Softbank Vision Fund

Lugano, Switzerland: The creator of renewable energy storage products 'Energy Vault' raises $110 million Series B funding round from SoftBank Vision Fund. This is the first investment of Softbank in energy storage technology. Energy Vault will use the funds to accelerate the global deployment of its technology, which for the first time enables renewables to deliver baseload power for less than the cost of fossil fuels 24 hours a day. As part of the investment, Andreas Hansson, Partner for SoftBank Investment Advisers, will join the Energy Vault board of directors. Energy Vault’s breakthrough technology was inspired by pumped hydro plants that rely on the power of gravity and the movement of water to store and discharge electricity. The company’s solution is based on the...
Grab invests $2 billion in Indonesia through Softbank Vision Fund
News

Grab invests $2 billion in Indonesia through Softbank Vision Fund

Ride-hailing giant Grab is investing USD 2 billion in Indonesia over the next five years, using funds from Japan's SoftBank Group to boost its presence in Southeast Asia's biggest economy. The Singapore-based firm has seen its business grow rapidly since it bought US-based rival Uber's regional ride-hailing and food business in March last year in exchange for a 27.5 percent stake in Grab. Its Indonesian investment will focus on building a next-generation electric vehicle transport network and rolling out e-healthcare services to improve access to doctors and medical services across the archipelago. The announcement came after SoftBank last week said it would partner with tech firms including Apple and Microsoft in a new $108 billion investment fund. It is the long-mooted succe...
Most SoftBank Vision Fund investors want to join second fund: Masayoshi Son
Entrepreneurs Talk

Most SoftBank Vision Fund investors want to join second fund: Masayoshi Son

Most investors in SoftBank's $100 billion Vision Fund want to join the group's forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday, adding discussions would begin soon.  The entrepreneur said in May a second fund would launch "soon", with SoftBank likely to be the only investor initially. Raising further funds is essential if Son is to extend his spending spree on late-stage startups around the world. Investors in the first fund include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple Inc and Foxconn, formally known as Hon Hai Precision Industry Co Ltd. The Vision Fund will ramp up its employee numbers to 1,000 from 400 currently, Son said at the group's annual general meeting. The fund's head, Rajeev Misra, said he sees i...
On demand delivery startup raises $1 billion from Softbank
FUNDING

On demand delivery startup raises $1 billion from Softbank

BOGOTÁ, Colombia-- Rappi, an on-demand delivery startup operating in Latin America, today announced an investment of up to $1 billion from SoftBank Group Corp. (“SBG”) and SoftBank Vision Fund (“Vision Fund”). The investment marks the largest technology financing to date in a Latin America-based company. SBG and the Vision Fund will each invest up to $500 million in Rappi. “SoftBank’s vision of accelerating the technology revolution deeply resonated with our mission of improving how people live through digital payments and a super-app for everything consumers need. We will continue to focus on building innovations for couriers, restaurants, retailers and start-ups that translate into new sources of growth" Founded in 2015, Rappi has emerged as the leading service app in the ...
Klook Raises $425 million Funding from Softbank Vision Fund
FUNDING

Klook Raises $425 million Funding from Softbank Vision Fund

Klook, a world leading travel activities and services booking platform has raised $225 million in Series D round. The funding round was led by SoftBank Vision Fund with participation from existing investors, including Sequoia China, Matrix Partners, TCV, and OurCrowd. This is the biggest round of funding in the global travel activities and services industry. In just four years, Klook has become the most searched travel activities and services company on Google. In the last year, the Hong Kong-based company expanded its global footprint into Australia, Europe, and the United States to deliver new, unique and exciting consumer experiences. Klook also entered into major global partnerships with Shangri-La Hotels and Resorts, Asia Pacific's leading luxury hotel group; and ...
WeWork Raises $2 billion after SoftBank cuts $20 billion Planned Investment
FUNDING

WeWork Raises $2 billion after SoftBank cuts $20 billion Planned Investment

World's leading co-working space provider WeWork raises $2 billion from Softbank in a deal that is billions of dollars below what WeWork hoped. The initial amount that WeWork and Softbank discussed was $20 billion funding to fund the growth of the company and buy out existing shareholders. With the recent funding round, Softbank Group Corp’s invested total $10.4 billion in WeWork including $4.4 billion in 2017 and $6 billion in 2018 and 2019. The initial plan was to invest $10 billion in SoftBank money to fund WeWork’s growth plans and use another $10 billion to buy out employees and other existing investors, according to a person familiar with the matter. That proposal would have given SoftBank majority control of WeWork. Reducing the investment leaves WeWork with $1 billi...
Japan’s SoftBank Vision Fund to Open its India Office
INDIA

Japan’s SoftBank Vision Fund to Open its India Office

Japan’s investment major Softbank investment Advisers, which invests through the SoftBank Vision Fund, is looking forward to deepening its play in India’s technology ecosystem, and thus, the company has announced plans to open an office in Mumbai in India. For this purpose, the company has even roped in Sumer Juneja to lead the same. Norwest Venture Partners’ Sumer Juneja would be joining SoftBank to lead its India investments. Juneja is joining the company after a 9-year stint at Norwest Venture Partners. He has also led and invested in deals like those in Swiggy, Komli Media and Quikr. “I’m delighted to welcome Sumer to the team; he will play a pivotal role in working with our existing portfolio companies as well as sourcing new opportunities on the ground. India represents an enor...
RPA Firm Automation Anywhere Secures $300 million from SVF
FUNDING

RPA Firm Automation Anywhere Secures $300 million from SVF

The RPA company Automation Anywhere has been raising valuable funds for a long time and this time, the company has raised $300 million in Series A financing round. This particular round was led by SoftBank Vision Fund. Following this funding round, the valuation of the company has reached $2.6 billion. Prior to this, the company raised $250 million. “With this additional capital, we are in a position to do far more than any other provider. We will not only continue to deliver the most advanced RPA to the market, but we will help bring AI to millions,” Mihir Shukla, CEO and Co-Founder at Automation Anywhere stated. Various RPA companies have been raising funds at an enormous pace this year. Another firm, UiPath also raised $265 million in its Series C round at a $3 billion valuation. ...
SoftBank Vision Fund to Invest $250 Million in India’s Popular Logistics Firm
BUSINESS

SoftBank Vision Fund to Invest $250 Million in India’s Popular Logistics Firm

The well-known SoftBank Vision Fund is in talks to invest $200-250 million (Rs 1,470-1,837 crore) in Indian ecommerce-focused logistics company Delhivery. The fund that was started by SoftBank’s Japanese billionaire founder, Masayoshi Son will make Delhivery’s valuation reach around $1.2 billion. This move will take the company to the unicorn club and it will become one of the most known delivery platform in the country. “They have been evaluating Delhivery seriously for the past few months but a transaction is not final yet,” said a person familiar to the matter. This investment will provide Delhivery a better capital runway, given that it comes after it was reported that the logistics firm decided to push back plans for an anticipated $350 million initial public offering, an issue i...
PolicyBazaar.com Raises 1360 Crore From Softbank Vision Fund, Enters Into Unicorn Club
FUNDING

PolicyBazaar.com Raises 1360 Crore From Softbank Vision Fund, Enters Into Unicorn Club

ETechAces and Consulting which operates PolicyBazaar.com has raised over USD 200 million (around Rs 1,360 crore) through a fresh round of investment led by Japans SoftBank. In a statement, the online insurance aggregator said, "it has clinched over USD 200 million in an investment round led by SoftBank Vision Fund, with participation from existing investors, including InfoEdge (Naukri.com)." The current round of funding will value the company over USD 1 billion. When Pixr8 News contacted, the company spokesperson declined to comment on the valuation part but said part of the funds would be used to grow the lending, investment and insurance business along with new initiatives such as healthcare tech and services and international expansion. The celebrated tech Unicorn club in In...