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Softbank invests in IT startups in U.S.

Jiji Press NEW YORK (Jiji Press) — Japan’s Softbank Group Corp. has invested in two U.S. information technology startups, online map provider Mapbox and artificial intelligence developer Petuum Inc., through its affiliated ¥10-trillion fund, it was learned Tuesday.

The Softbank fund and other investment funds provided $164 million to Mapbox and $93 million to Petuum, informed sources said.

Established in 2010, Mapbox provides map and location data, and navigation technologies to International Business Machines Corp. and other firms. Mapbox plans to use the fresh funds for the development of technologies for automated driving and games including augmented reality and for investment abroad.

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