The most recent announcement from T-mobile’s new US wireless carrier SoftBank has given some details on the amount of SoftBank funding that the carrier is giving to its new launch fund, T-Mobility.
The SoftBank-funded fund is set to launch in the third quarter of this year.
According to the SoftBank statement, TMobile will receive the majority of the funds, with US carrier partner SoftBank receiving one-third of the total funds.
In the TMobile statement, SoftBank also outlined a few of the benefits of the SoftFund: “The fund will be designed to accelerate T-mobility deployment and help accelerate the adoption of T-mobiles and other new technologies, which will help us further develop our network and service offerings.”
The SoftFund is slated to be a “major source of investment for the T Mobile team and for the network,” according to SoftBank CEO Masayoshi Son.
SoftBank is also providing $1.5 billion in additional funding, according to the company’s statement.
Softbank’s investment in T-Mobiles comes after a $400 million investment from the Softbank-backed GlobalFoundries in 2017.
The GlobalFoundrie is a Japanese firm that has been involved in the production of microprocessors for the iPhone and other smartphones.
Soft-Bank is expected to receive some of the GlobalFoundri funds from Softbank.
In its statement, the SoftBets stated that “the SoftBank Investment will further strengthen T- Mobility, which has an ambitious goal of deploying 100 million LTE subscribers by 2021.”
SoftBank also announced the launch of TMobile US as a launch partner for the SoftBand, a Bluetooth Low Energy-enabled wireless charging solution that is being developed by the startup.
The first T-Band was released in 2017, and the second is expected in the first half of 2019.
SoftBand is an application that enables T-bands to be used on all T-devices.