SoftBank invests in IoT platform for energy sector
SoftBank said the company will provide its IoT platforms based on big data analysis and predictive technologies
Japanese telecoms group SoftBank has entered into a definitive agreement of investment in Encored, a provider of energy IoT platforms.
The Japanese firm said that following the investment the corporate name will change from Encored Inc. to Encored Japan. The Japanese operator will own 50.1% of the firm’s total shares.
Encored was established in January 2016 as a Japanese subsidiary of Encored USA. The company is providing a platform service, “Enertalk”, which offers the analysis of real-time energy data with their IoT devices to about 100,000 households worldwide.
Encored Japan will provide the platform service based on their big data analysis and predictive technologies of the life pattern as well as energy usage data at home. Encored Japan will work together with their business partners to develop various services such as energy management assistance, diagnosis for energy efficiency of home appliances, and monitored security system for elderly person through their platform.
SoftBank said that it will also invest in Encored USA. “I am pleased to work with Encored USA, which has excellent energy big data analysis and predictive technologies. Their technologies are indispensable to providing new energy IoT services and they will create new value by fusing energy and Internet communication,” Ken Miyauchi, president and CEO at SoftBank, said. “I believe that the more our business partners adopt Encored Japan’s platform service operated by their own AI technologies, the more SoftBank and Encored can promote various energy services in Japan and enrich people’s lives.”
“We will work hard to develop the best IoT platform service by combining Encored’s energy big data technologies with SoftBank’s various technologies,” John Choe, CEO and founder, Encored USA, said.
SoftBank has operations in broadband, fixed-line telecommunications, e-commerce , technology services, finance, media, semiconductor design, and other businesses.