SoftBank Corp. Leads VANTIQ Series B Investment Round

VANTIQ and SoftBank Corp. form a strategic partnership to address today’s rapidly evolving business needs

SAN FRANCISCO, July 17, 2019 (GLOBE NEWSWIRE) — VANTIQ, the company that powers the real-time business, today announced a three-pronged strategic partnership with SoftBank Corp. (“SoftBank”) encompassing the following components:

  1. SoftBank and VANTIQ will jointly integrate their existing and future technologies to address rapidly growing market opportunities for real-time systems involving IoT and AI. The combined solutions will be marketed by SoftBank to systems integrators (SIs) and independent software vendors (ISVs) for building next-generation applications.
  2. VANTIQ and SoftBank have initiated the joint development of applications for SoftBank’s Smart Building and Smart City initiatives. According to IDC, “Global spending on smart cities initiatives will reach $189.5 billion by 2023.”1
  3. To solidify this strategic partnership, SoftBank will lead VANTIQ’s Series B investment round. As part of that transaction, Mr. Hironobu Tamba, VP and Head of SoftBank’s Smart IoT and AI Division, will join the VANTIQ Board of Directors. This will ensure a strong relationship between SoftBank and VANTIQ and assist in synchronizing both companies’ business strategies.

“Fields such as smart buildings and smart cities are expected to gain substantial momentum in the coming years. In such areas, full-scale complex processing of vast amounts of data in real-time has become absolutely imperative,” said Junichi Miyakawa, Representative Director & CTO of SoftBank Corp. “The collaboration with VANTIQ makes it possible for SoftBank to design, build and deploy real-time, event-driven applications in a field with large-scale data exchange requirements. This unlocks high-demand customer use cases, leading to further business expansion. With this strong partnership, we aim to make significant advances in the IoT industry.”

VANTIQ CEO and co-founder Marty Sprinzen commented, “In 2019 we have gained significant market momentum globally across a wide range of industries that are actively reinventing themselves with digital transformation. The strategic partnership with and investment from SoftBank will enable VANTIQ to further accelerate its position as the most advanced real-time, event-driven application platform. We view SoftBank as one of the strongest companies we could partner with and we believe that combining our individual strengths creates a very powerful and unique opportunity.”

Integrated Solution to Be Showcased at SoftBank World 2019
VANTIQ will be featured in the SoftBank exhibit at SoftBank World 2019, taking place July 18 and 19 in Tokyo. Demonstrations will include a number of new applications built with VANTIQ related to smart building and smart city operations.

About VANTIQ
VANTIQ, the company that powers the real-time business, provides the only truly agile platform for creating transformative, event-driven applications. Founded in 2015 by renowned tech industry veterans Marty Sprinzen and Paul Butterworth, VANTIQ enables significantly lower development and maintenance costs, and provides maximum agility in response to constantly-changing business requirements. For more information, visit www.vantiq.com

1 IDC Press Release, Smart Cities Initiatives Forecast to Drive $189 Billion in Spending in 2023, According to a New Smart Cities Spending Guide from IDC, June 2019

Media contact:
VANTIQ
Dana Dye
+1-415-928-1310
ddye@vantiq.com

Post Author: Asianet Pakistan