Japanese conglomerate SoftBank announced that it would be leading a $280M funding round in U.S. location-mapping company Mapbox. The move comes as part of SoftBank’s push to expand into artificial intelligence (AI).
Mapbox software is included in car navigation systems for Toyota, BMW, General Motors, and others, and whose role will become even more critical as vehicles become more autonomous. Mapbox said this new funding will allow them to enhance the ways in which its AI software can interact more closely with cameras and other sensors in a vehicle.
Croke Fairchild Duarte & Beres would like to congratulate Mapbox, SoftBank, and all those involved in this most recent financing.
Read the full Financial Times article here.