Tag Archives: Vision

SoftBank's Vision Fund in talks to invest $1.5 billion in Chinese used car platform: sources
February 2, 2019 6:01 am|Comments (0)

HONG KONG/BEIJING (Reuters) – The SoftBank-led Vision Fund is in talks to invest up to $ 1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said.

That would mark the latest Chinese deal by the mammoth $ 100 billion investment fund as it looks to expand in the world’s No.2 economy, and would come after it invested 460 million euros in German used car dealing platform Auto1.

The fund is likely to invest up to $ 1.5 billion in Guazi in a deal that would value the firm at $ 8.5 billion before the investment, according to one of the sources, who had direct knowledge of the situation.

The two sources, who were not authorized to speak to media, also said the Vision Fund had in the past few months held talks with Guazi’s direct rival, Renrenche, which is backed by Chinese ride-hailing firm Didi Chuxing.

Guazi, a consumer-to-consumer used car trading platform founded in 2014, is backed by Chinese internet giant Tencent and Sequoia Capital China. Its talks with Softbank were first reported by the Financial Times late on Friday.

The Vision Fund and Renrenche declined to comment. Guazi did not respond to a request for comment. Japan’s Softbank was not immediately available for comment.

The Vision Fund, the world’s largest private equity fund after raising more than $ 93 billion in 2017, has previously made investments in firms such as ride-hailing company Uber Technologies Inc and shared-office space firm WeWork.

China’s used car market has continued to grow even as overall auto sales declined last year for the first time since the 1990s.

Used sales rose 11.5 percent in 2018 from the year before to 13.82 million vehicles. The total value of these transactions was 860.4 billion yuan ($ 127.61 billion), according to the China Automobile Dealers Association.

China’s state planner has said the country would aim to loosen restrictions on the second-hand auto market, with “appropriate” subsidies provided to boost rural sales of some vehicles.

Reporting by Julie Zhu in Hong Kong and Yilei Sun in Beijing, additional reporting by Junko Fujita in Tokyo; Editing by Joseph Radford

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Mantis Vision raises $55 million in round led by Luenmei, Samsung
July 16, 2018 6:52 am|Comments (0)

JERUSALEM (Reuters) – Israeli high-tech firm Mantis Vision, which provides 3D content capture and sharing technologies, said on Monday it raised $ 55 million in a round led by China-based Luenmei Quantum Co and Samsung Catalyst Fund.

The Israeli firm and Luenmei also formed a joint venture to strengthen Mantis Vision’s growth in China.

Mantis Vision said its technology can be used in a variety of applications, including 3D smartphone cameras and professional 3D scanners.

The company said it has now raised a total of $ 83 million and expects to double its workforce by the end of 2020 with an additional 140 employees.

Reporting by Ari Rabinovitch; Editing by Tova Cohen

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Azure Stack preview reveals Microsoft’s hybrid cloud vision
March 10, 2017 2:15 am|Comments (0)

Azure Stack, Microsoft’s private cloud software built from the same bits used to create the public Azure cloud service, is now available in its third, and likely final, technical preview edition before being released to the public later this year.

TP3 has many new features, but it also clarifies Azure Stack’s pricing structure, and how Microsoft is addressing the specific problems customers are using Azure Stack for.

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IBM’s Watson gets smarter with upgraded speech, language and vision APIs for developers
January 30, 2016 8:20 pm|Comments (0)

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IBM has announced that its cognitive intelligence platform Watson has been upgraded with speech, vision and language capabilities, allowing developers to to build smarter apps. On the language side of things, IBM says Watson can now understand ambiguous language in text through a few different modules. The IBM Watson Natural Language Classifier understands meaning, while IBM Watson Dialog makes for more natural app interactions by tailoring language to the style used by a person asking a question. Perhaps more interestingly than that though, the new Visual Insights capabilities promise to allow developers to glean insights from images and videos on…

This story continues at The Next Web


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