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In an official press release, Frans Meyer, CEO of Alphawave Group, explains how the investment will increase the speed of expansion 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. 

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.

Frans meyer, alphawave ceo

Read more: https://ventureburn.com/2020/11/alphawave-group-secures-r100-million-investment/

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