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SoftBank to Invest in Big Data IoT Platform Startup for Energy Sector Encored

SoftBank to Invest in Big Data IoT Platform Startup for Energy Sector Encored

SoftBank has entered into a agreement of investment in a Japanese subsidiary of Energy IoT Platformer, Encored USA. 

The South Korean company was established in January 2016 as Encored USA. It is a big data company that aggregates energy demand data and provides information platforms and related services. 

The company claims that its platform service, Enertalk offers the analysis of real-time energy data with their IoT devices to about 100,000 households worldwide. 

SoftBank will acquire Encored’s new shares through the third-party share issuance by the end of July. Encored Japan will provide the platform service based on their big data analysis and predictive technologiesof the life pattern as well as energy usage data at home to enrich the daily life of people. SoftBank will also invest in Encored USA. 

Encored Japan willwork 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.

Ken Miyauchi, President and CEO, Softbank
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.

John Choe, CEO and founder, Enncored USA 
Encored aims to provide useful and convenient services for various people's lifestyle based on our energy big data analysis. I believe that SoftBank is thebest partner for entering not only Japan but also the global market. 

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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