SoftBank continues spending spree with $35m investment in IoT analytics platform
Japanese multinational conglomerate SoftBank Group International recently led a funding round for HEED – a new consumer platform that uses IoT analytics and AI to transform sports and entertainment experience.
The round raised $35 million which will be used to strengthen the company’s expansion as it ties up with sports clubs and leagues across the world to create deeper connections with mobile fans.
HEED co-founder and owner of AGT International Mati Kochavi, said: “Technology has evolved tremendously in interpreting the physical world. HEED is harnessing this to create a new sports fan experience. This was the driving force behind our vision – to create a platform that uses AI and IoT to deliver the best and exclusive sports moments in near real-time. HEED is leading this transformation, and we’re excited to bring on SoftBank as a strategic partner.”
Alok Sama, president and CFO of SoftBank Group International, said: “By leveraging AI and IoT, HEED has developed a unique platform that is changing the way fans watch and interact with sports. HEED is taking a traditionally static experience and providing fans with deeper insights into the physical and emotional aspects of the sporting event by gathering and analysing large, complex data in real time. We are excited to partner with Mati and the team as they continue developing and enhancing this revolutionary technology.”
In addition, SoftBank also entered into a joint venture with Toyota where data will be used to optimise supply and demand in the transportation space. Monet Technologies will be the company that will coordinate between Toyota's information infrastructure for connected vehicles and SoftBank's IoT platform that collects and analyses data from smartphones and sensors.
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