Saudi-Backed Softbank Fund Pours $1.1 Billion in Smart Glass Firm View

Published November 4th, 2018 - 03:01 GMT
The tint of the company’s “dynamic glass” product can be automatically altered — helping minimize glare and reduce energy consumption by up to 20 percent, it says (Courtesy View)
The tint of the company’s “dynamic glass” product can be automatically altered — helping minimize glare and reduce energy consumption by up to 20 percent, it says (Courtesy View)

The Saudi Arabia-backed SoftBank Vision Fund has invested $1.1 billion in View, a company that makes Internet-connected windowpanes.

The tint of the company’s “dynamic glass” product can be automatically altered — helping minimize glare and reduce energy consumption by up to 20 percent, it says

“We are excited to have this strong endorsement of our vision from SoftBank,” said Dr. Rao Mulpuri, CEO of View, in a statement.

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“This investment enables us to scale our business to meet rapidly growing demand, and further expand our mission: Creating delightful human environments that are more intelligent, more connected and more personalized than ever before.”

Tom Cheung, partner at SoftBank Investment Advisers, said that View had “created an entire new market category that makes buildings healthier and smarter.”

View’s dynamic glass is installed in 35 million square feet of buildings and is growing “rapidly,” the company said.

The Vision Fund — which has also invested in companies like Uber Technologies and WeWork — has earmarked nearly $100 billion in capital for promising technology companies. Saudi Arabia has contributed $45 billion to the fund.
 

Copyright: Arab News © 2019 All rights reserved.

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