SoftBank Group Surpasses $100 Million Investment in Miami Start-Ups
The company is targeting local businesses in the technology sector
After committing $100 million to provide capital to technology start-up companies in the Magic City, SoftBank Group’s Miami initiative recently reached $250 million in funding provided to Miami start-up companies. The investment plan began earlier this year and is part of SoftBank’s $5 billion Latin America Fund created in Miami.
SoftBank has been providing funding to technology businesses for nearly 40 years. As more enterprises target Miami due to favorable state income taxes and a desired lifestyle, the investment giant isn’t stopping at $250 million as it plans to help the area become the epicenter of technology and business innovation.
To meet that goal, 12 companies based in Miami or with plans to expand to the area have received part of the $250 million funding. One of the first companies to receive funding was Doral-based Lumu Technologies, a cybersecurity firm. With more allocation planned, the initiative is still seeking emerging businesses in the fintech, blockchain, crypto to education and medical technology, cybersecurity and sleep fitness sectors. To apply, visit here.