Daily Management Review

Softbank invests $502 mln in a British VR startup


05/12/2017


One of the leaders in the field of telecommunications, Softbank, announced an investment of $ 502 million in Improbable, a start-up from the UK that helps companies create complex virtual worlds.



Cameron Adams via flickr
Cameron Adams via flickr
As a result of the round B, the British start-up, created 5 years ago, was estimated at more than $ 1 billion. The startup, founded by two graduates of Cambridge University, offers a new way to build virtual worlds. Earlier, the company had already received $ 20 million from venture fund investors Andreessen Horowitz.

In 2012, Improbable introduced a platform that allows companies to perform complex modeling quickly and comparatively cheaply. The development allows creating not only exciting worlds, but also digital models of real cities, economic and biological systems. These virtual worlds can work together through a virtually endless network of computers, so that users can reach new levels of complexity and scale.

Last year it became known that Improbable joined forces with Google to create a tool SpatialOS, accessible to all comers. Together with its British partner, Google expects to develop augmented and virtual reality, as well as artificial intelligence.

The potential for using this platform is quite extensive. The contingent of customers varies in the range of video game vendors such as Bossa Studios, technology giants such as Samsung, Oxford-like universities, and the government represented by the UK Department of Defense. Thanks to SpatialOS and the use of cloud systems, in the very near future it will be possible to dive into virtual worlds using the mobile Internet standard 5G without any difficulties, the company promises.

According to the terms of financing, SoftBank's senior executive director, Deep Nishar, will join the board of directors of Improbable. "The startup is creating revolutionary technologies that are becoming vital, as well as valuable platforms for the global gaming industry," Mr. Nishar said in a statement. "This new world simulation system has much more potential than just a gaming platform, it can help us take right decisions about the world in which we live". 

Softbank Group announced a record net profit in the financial year 2016, which ended in March. Representatives of Softbank said that this result was reached thanks to successful work in the domestic market.

Net profit rose threefold to $ 12.5 billion and for the first time exceeded one trillion in yen terms.

Softbank Group management reports that the profit margin has also increased thanks to sale of part of Softbank’s shares owned by Ali Baba Group, one of the world's largest online stores.

Earlier, Softbank Group announced a record net profit in the 2016 financial year, which ended in March. Representatives of Softbank said that this result was gained thanks to successful work in the domestic market.

Net profit rose threefold to $ 12.5 billion and for the first time exceeded one trillion in yen terms.

Softbank Group’s management reports that the profit margin has also increased thanks to the sale of part of the shares of Softbank owned by Ali Baba Group, one of the world's largest online stores. 

source: techcrunch.com






Science & Technology

With China Set To Dominate, 1 Billion Could Be Using 5G By 2023

Deutsche Telekom unveils next gen 5G mobile antennas in Europe

Diamonds are now the new gold

Expert Body Says Driving In A Driverless Car In An Inebriated Condition Or On Drugs Should Be Legalized

SEC’s EDGAR database vulnerable to cyber threats

Research Says The Risk Of Severe Turbulence On Planes Will Increase Due To Climate Change

Barclays and CLS Group aim to replace SWIFT with blockchain

Designing Of Cars Being Done With Hologram Goggles At Ford

The Already Surging Cyber Attacks Are Set To Rise Even Further, Says A Study

Chinese to equip smartphones with OLED displays

World Politics

World & Politics

Scholar Says Political Appointees Not As Important As Financial Ones In China For The Economy

An Expected Change In Brussels Could Be Crucial For The Euro Zone

Destroying People Who Wouldn't Help One Of His Bankrupt Businesses Was All Trump Talked About When He Met Him In 1990s: Branson

Russia Is Worried About America’s Unpredictability

No oil contracts with Iraqi Kurdistan: Iraq’s oil ministry

Donald Trump lost $ 600 million during his presidency

Britain puts its weight behind Europe in the battle between Boeing and Bombardier

EU hopes to keep the Iran nuclear deal afloat