softbank

SoftBank sold 1.08% stake in food delivery company Zomato through block deals on Friday. Through the sale, the Japanese investor bagged Rs 1,125 crore.According to exchange data, SoftBank has offloaded 9.35 crore shares in the company at Rs 120.5 apiece. Through the deal, prominent investors, including Citigroup, Fidelity Investment, Goldman Sachs, Invesco MF, ICICI Pru Life, Morgan Stanley and others picked up shares in the company.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian…

SoftBank will gain three seats on the board, while three more seats will continue be held by existing shareholders, including Volkswagen software unit Cariad and Qualcomm.SoftBank Corp will invest roughly 473 million euros (USD 514 million) to take a 51% equity stake in Cubic Telecom that will give the Dublin-based connected-vehicle technology provider greater access to Asian automakers.The Japanese telecommunications arm of tech investment giant SoftBank Group and…

As automakers and technology companies continue to build ever-more sophisticated digital platforms into cars and other vehicles, a startup that’s built a system that makes it easy to connect that hardware to wireless networks around the world has picked up a major round of funding. Cubic Telecom, which provides a software-based networking solution for vehicles (and other devices) to connect to mobile networks in whichever country they happen to be, has picked up €473 million ($513 million at today’s rates) from…

Swiggy, the Softbank-backed food delivery company, is eyeing a 2024 stock market listing and has initiated talks with bankers to assess its valuation, after halting the process for months due to weak markets, three sources with direct knowledge of the matter said.Swiggy, which delivers food from restaurants and also groceries, was valued at $10.7 billion (nearly Rs. 88,350 crore) in its last fundraising in 2022 but like many Indian startups put its IPO plans on hold amid a funding crunch and investor concerns about…

SoftBank Group is forming a joint venture with supply-chain services provider Symbotic to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday.The firms are investing a total of $100 million in the venture, which will be called GreenBox Systems. The unit has also signed a contract to buy AI-powered systems worth $7.5 billion for its warehouses from Symbotic. The deal will give SoftBank, already an investor in Symbotic, warrants representing about 2% of…

Image Source : INDIA TV Swiggy enhances user experience with generative AI Swiggy, a popular online food delivery platform has announced the incorporation of generative AI techniques to develop products and services that facilitate intuitive ordering experiences, In a bid to elevate user experience. With the implementation of AI-powered neural search, Swiggy aims to…

When it comes to transforming business operations, artificial intelligence holds a lot of promise across many industries. Today, a startup that has been an early mover in the area of applying AI, and specifically computer vision, to the world of insurance is announcing a round of growth funding to continue expanding its business. Tractable — which has built computer vision and related AI to carry out remote assessments of damage to property and cars — has picked up a further $65 million in funding. SoftBank Vision…

Eruditus, a provider of executive education programmes, has recorded a 63% increase in revenue for the year through June 30 and turned operationally profitable in the last quarter, its founder and chief executive told ET.Revenue rose to $400 million (around Rs 3,280 crore as per current exchange rates) in 2022-23 from $245 million the previous year, said Ashwin Damera. Eruditus follows a July-June fiscal year.Damera did not disclose the operating profit — earnings before interest, tax, depreciation and amortisation…

New military and commercial craft aim to go far higher than jumbo jets and stay there for months, offering a more flexible alternative to satellites. New military and commercial craft aim to go far higher than jumbo jets and stay there for months, offering a more flexible alternative to satellites. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified.…

Back in 2021, Japanese investment giant SoftBank led a little-known social media app called IRL to unicorn status and an overall valuation of $1.17 billion by investing over $170 million. Well, it turned out that the app completely made up its user numbers, admitting that 95 percent of its purported 20 million user base was fake, At the time, SoftBank “an innovative event-based social network” that enables “people to do more together.” However, the firm didn’t know that there were no actual people doing more together.…