Softbank will invest billions in Norwegian robotics

Investor

According to the information, Softbank will be in talks with 1X Technologies about another major Norwegian investment.

In the case of the site the information Which came out to readers Thursday afternoon Norwegian time, says that Softbank is about to invest in Moss 1X Technologies (formerly Halodi Robotics).

The Information writes about what’s going on in the Silicon Valley environment and is known to be very well sourced among investors and US technology companies. Hence, they have made it a sport of revealing impending investments before the players themselves announce them. This time, a Norwegian company is participating.

According to the site’s sources, the investment will range between 75 and 100 million dollars, or about 825 and 1,100 million Norwegian kroner.

In this case, 1X, which recently had ChatGPT creator OpenAI and Tiger Global as investors, should be valued at more than five billion Swedish krona after the money.

Hard Time

The company, controlled by Korea’s Masayoshi Son of Japan, has had a tough few years while valuations in the tech industry have corrected sharply in some cases.

SoftBank itself had to take responsibility for the deep cuts, which for a time put the company at risk of violating certain terms of the loan.

But this fall, SoftBank finally succeeded in listing the British chip manufacturer with slightly Norwegian origins, ARM, and at the same time raised $4.8 billion in capital for the company. Arm was acquired by the same store owner, Softbank, before the listing, which was a huge success. The stock price later corrected 18 percent in line with sentiment in the semiconductor industry.

If rumors of a 1X investment are true, this wouldn’t be the first time Softbank has made a major purchase in Norway. The Japanese investor has invested heavily in both Oda and Autostore.

Shifter has been in contact with 1X Technologies, which does not wish to comment on the matter.