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SoftBank Group announces an evergreen fund for underrepresented founders

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SoftBank, a Japanese corporation, has announced the creation of an expanded evergreen fund dedicated solely to supporting Black, Latinx and Native American entrepreneurs in the United States. SoftBank’s $100 million Opportunity Growth Fund for underrepresented founders was announced in June 2020, and this pledge is a continuation of that fund.   Up till now, the initiative has  already benefited 70 businesses. About 55% of the first portfolio firms were formed by Black people, 40% by Latino people, and 5% by Black and Latino people. Despite this, the SoftBank Opportunity portfolio favors men, with only 13% of companies in the portfolio having been started by women of color.   SoftBank Group announced a pledge to invest in underrepresented creators in the face of rising racial inequality, and the SB Opportunity Fund was formed in less than 24 hours. SoftBank is now doubling down on its first investment by making this initiative…

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SoftBank
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SoftBank unit to invest in Line integration

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The SoftBank Group’s subsidiary Z Holdings has announced that after completing a merger with the popular messaging app Line, it will invest $4.7 billion into the venture and hire 5,000 artificial intelligence engineers over the next five years. The merger of the two Japanese companies has been in the works since 2019, but was delayed by issues related to Covid-19. The main business areas of the company will be communication and social media, electronic and mobile commerce, along with online search and advertising. With the launch of their new services and collaborations with companies such as for online advertising, the joint establishment aims to generate $18.7 billion in revenue and $2 billion in operating profit in the fiscal year 2023.   Softbank Corp. and Naver Corp., the South Korean IT giant and major shareholder of Line, will each contribute 50 percent of capital required for the new intermediate holding…

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SoftBank and KDDI
Telecom News

SoftBank and KDDI to invest in 5G boost

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Two Japanese telecommunications providers, SoftBank and KDDI, have drawn up a plan to invest a total of $38 billion in fifth-generation wireless networks in Japan over the next 10 years. The country is seeking to close the gap between itself and its neighbors, China and South Korea, who have taken the lead in rolling out this ultra-fast technology. The 5G technology is expected to provide a large-scale boost to the country’s economy, benefiting a variety of industries, from Internet services to the automotive industry. Currently, 5G coverage across Japan remains very limited, mainly focused on Tokyo and other major population centers. Both operators plan to invest $19 billion each. For Japan’s 5G network, SoftBank plans to build 350,00 base stations nationwide, of which 50,000 are expected to be completed by March of 2022, and 200,000 more by 2025. Meanwhile, KDDI, which currently has less than 10,000 base stations,…

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Starlink has extended its satellite backhaul services to over 100 rural base stations of Africa Mobile Networks (AMN) in Nigeria.
Broadband

Starlink Boosts Connectivity for 100 Remote Nigerian Sites

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Starlink has expanded its satellite backhaul services to over 100 rural base stations of Africa Mobile Networks in Nigeria, enhancing connectivity in remote areas. Since their 2023 agreement, traffic surged 45% across connected sites. Leveraging Low Earth Orbit (LEO) satellites, AMN effectively boosts base station capacity, transforming local communities with improved mobile access.

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CelcomDigi inaugurated its AI experience center in Malaysia. This center aims to foster the creation of digital solutions in various sectors.
AI

CelcomDigi Launches AI Experience Center, Drives Digital Innovation

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CelcomDigi has launched its AI Experience Center, AiX, in Malaysia to drive digital solutions across various industries. Located in Subang Jaya, AiX offers interactive simulations and showcases real-world applications in sectors like healthcare and logistics. Supported by global tech giants, this initiative underscores Malaysia’s commitment to advancing 5G and AI technologies.

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