CEO of Alphawave Group, Frans Meyer (pictured above), outlines in an official press release how the investment would accelerate the pace of growth for their group.
“This investment demonstrates the success we have had in developing valuable technology businesses – our track record, our exits, but mostly our careful eye in attracting and growing the best engineering talent in South Africa. Before Lockdown, we had multiple investment companies talking to us but we were not actively looking for funding. We generate cash from established businesses in our portfolio to invest in new ventures.
This is how we started Skynamo and Inrange – our latest technology ventures now expanding rapidly on the international stage. Capital of this kind can, however, accelerate the current businesses. It allows us to attract top talent more aggressively, finding technical people with sound engineering ethos and unique, internationally competitive skills in the Internet of Everything domains we specialise in.
Furthermore, the capital allows us to accelerate building our Group, as opposed to us growing organically. The restriction of bootstrapping potential new businesses has been released.”
According to the reports, Kagiso Capital invested in Alphawave Group to expand into the advanced technologies space. Alphawave Group tests product-market fit and provides crucial funding to incubate products for tech startups.
Kgotso Schoeman, Chief Executive Officer of Kagiso Capital, explains that Kagiso and Alphawave’s partnership is an investment strategy that amplifies and SA’s creative ideas on a global scale.
“We want to rapidly impact innovation in this country and we think Kagiso’s interest and contribution on strategy, together with Alphawave’s experience and skills, could have profound effects, drawing talent from the broader demographics of our country into internationally competitive science and engineering firms. They will maintain their independence and team culture while we get to be partners in developing South African ideas that can be taken to a global market.”
Alphawave Group’s 12 businesses are innovators in sensor technology, electronic design and development, machine learning, artificial intelligence, data science, software development and virtual and augmented reality, with an emphasis on the Internet of All (IOE).
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