Softbank invest $500 million in Cambridge Mobile Telematics.

Softbank invest

Softbank invest in CMT around $500 million as per the reports. So, What CMT does? Cambridge Mobile Telematics (CMT) collects the data from its mobile app and hardware installed in the Car which is used to analyze the driving behavior of the operator and predict the possible crash instances in the near future.

The data will be useful for car insurance companies to help them understand the crash incidents and prepare custom insurance plan for its customers.

It is Usage based auto insurance that prices insurance premiums on the basis of how people drive.

This article Emailed on, Thursday, December 27, 2018 to our Newsletter subscribers at 7 Am IST.

Softbank invest in Insurance

CMT was founded by Bill Powers and 2 MIT computer science professors, Hari Balakrishnan and Sam Madden 2010.         

CMT app also helps drivers to improve their driving skills with the help of leader-board style competitions and monetary incentives for improvements in driving.

Softbank is looking for bigger opportunity in Insurance business as CMT is helpful tool for policy makers.

There are 1.2 billion vehicles on the road in the whole world now and 875 million policies to cover them.

Softbank’s $100 billion vision fund is backed by Saudi Arabian government and it’s looking for tech companies to invest which can impact the future of business”.


Looks like, you read the whole story. Because its cool to know something real and helpful, right.

We publish daily few curated articles and snippets from Business and Tech world, which are directly / indirectly related to the social trends, economy and Future of jobs

We cover  more stories in our daily Newsletter and we urge you to subscribe to get more industry insights.

Other “exclusive stories of the day” for our Newsletter Subscribers.

Russia Conducted another Hypersonic Missile Test?

Indian logistic Startup LetsTransport raises $13.5 million in funding.

Samsung to develop self driving chips?

Don’t forget to share the “Softbank investment in CMT story” with others.

  • 3
  •  
  •  
  •  
  •  
    3
    Shares