BELLEVUE, Wash.--(BUSINESS WIRE)--Sep 26, 2023--
T-Mobile US, Inc. (NASDAQ: TMUS):
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T-Mobile Ventures is launching a second investment fund to unlock innovative products and services that bring consumers and business customers deeper connections to their world. (Graphic: Business Wire)
What’s the news: T-Mobile Ventures is launching a second investment fund to unlock innovative products and services that bring consumers and business customers deeper connections to their world.
Why it matters: In an increasingly digital world where connectivity is the critical currency, T-Mobile Ventures is focusing its second fund on innovative products and services that bring customers closer to things that matter most to them.
Who it’s for: Mid- and growth-stage companies building next generation products and services for consumers and businesses that align with T-Mobile’s strategic business growth areas.
T-Mobile (NASDAQ: TMUS) today announced its second corporate venture capital fund to fuel the next generation of products and services that help bring customers and businesses deeper connections to their world – for example, by bringing the power of artificial intelligence (AI) into the mobile experience, creating a seamless connected home, ensuring peace of mind for parents of digital natives, and deploying actionable business insights through edge computing.
The new fund will enable private mid- and growth-stage companies to unlock the future growth areas that T-Mobile’s powerful 5G network is delivering to consumers and businesses alike. With the foundation of America’s leading 5G network, the possibilities for discovering investments that deliver industry redefining technologies and experiences are nearly endless.
“This fund is yet another way we’re doubling down on T-Mobile’s mission to be the best in the world at connecting customers to their world,” said John Saw, EVP and Chief Technology Officer, T-Mobile. “After the success of our first fund in fueling 5G innovation and bringing futuristic products like 5G-connected, AI-enabled cameras to life, we’re focusing on the next generation of products and services that will bring consumers and businesses a deeper connection to the things that matter most to them.”
T-Mobile’s second corporate venture fund will directly support T-Mobile’s strategic business growth areas via the following four objectives:
- Augment T-Mobile’s core consumer products and services. This includes products and services that simplify and enhance customers’ daily lives, such as smart home products that bring customers peace of mind while on vacation, connected wearables that improve mental health and well-being, and mobile apps that enable personalized experiences for sports and entertainment.
- Expand T-Mobile’s set of business services and capabilities. This includes products and services that accelerate digital transformation and harness data and insights, such as intelligent edge computing services for computer vision to monitor factory equipment or traffic patterns in a retail store, connected vehicle navigation technologies, cybersecurity platforms, and distributed workforce applications.
- Accelerate expansion for new lines of business, such as T-Mobile Home Internet, T-Mobile Money, and T-Mobile Advertising Solutions.
- Support T-Mobile’s network and technology roadmap in areas of future growth potential. This includes areas such as AI, XR and spatial computing, and smart mobility.
By being part of T-Mobile Ventures, portfolio companies can benefit from T-Mobile’s network and engineering expertise, go-to-market infrastructure, and investment backing as they work to develop, test and launch this next generation of products and services.
T-Mobile Network as a Platform for Innovation
T-Mobile is the leader in 5G, delivering the country’s largest, fastest and most awarded 5G network. The Un-carrier’s 5G network covers 326 million people across two million square miles – more than AT&T and Verizon combined. 285 million people nationwide are covered by T-Mobile’s super-fast Ultra Capacity 5G, and the Un-carrier plans to reach 300 million people with Ultra Capacity this year – nearly everyone in the country.
T-Mobile Ventures works with corporate venture capital firm Touchdown Ventures to help manage the fund. For more information about T-Mobile Ventures, visit www.t-mobile.com/ventures.
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See 5G device, coverage, & access details at T-Mobile.com
About T-Mobile
T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com
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KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY MOBILE/WIRELESS SOFTWARE 5G ARTIFICIAL INTELLIGENCE
SOURCE: T-Mobile US, Inc.
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PUB: 09/26/2023 08:22 AM/DISC: 09/26/2023 08:22 AM
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