Telecommunications firm SoftBank has invested an amount indicated by a regulatory filing to be $6m in US-based energy data analysis platform Encored Technologies USA.
The funding was provided alongside a separate deal through which SoftBank will acquire a 50.1% stake in Encored’s Japan-based subsidiary, which will be renamed Encored Japan.
Encored Technologies USA is itself a subsidiary of South Korea-based Encored, and provides big data technology that manages energy data and predicts usage patterns. It had previously received $500,000 in 2013 and another $6.3m the following year, according to regulatory filings.