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Visiosoft gets seed funding from Savant for expansion

The Savant team.
The Savant team.

Visiosoft, a South African manufacturer of Internet of Things (IoT) devices, has received seed funding from investment firm Savant to speed its global expansion.

Visiosoft specialises in the design, development, and manufacturing of IoT devices, with a particular emphasis on communication infrastructure.

The start-up unveiled its global ambitions this week, citing a "transformative investment" from Savant, a deep-tech and hardware investor, as an anchor of the move.

With over 70 000 devices currently on the market, the company says it now aims to expand its footprint with Savant support, as the extra financing will allow it to enter new areas.

"The funds will be directed towards enhancing the team's capabilities and ensuring ample working capital to meet commercial demands," the company stated in a statement.

The company, based in Bellville, Cape Town, stated that it is on a ''trajectory to scale in Africa and developed global markets,'' and that "the strategic investment from Savant positions the company to continue leading the way in IoT innovation, providing impactful solutions for a connected world."

"This strategic infusion of capital not only reinforces our commitment to excellence but also solidifies our position as a key player in the IoT industry," Johan Dirker, president and CEO of Visiosoft, said

"Savant crucially identifies globally competitive, cutting edge, technological innovation and highly capable teams emanating from Africa," said Savant partner Thaheer Mullins. “Visiosoft is one example of this, and they have already begun the process of internationalisation.

“They've had a scaled revolutionary impact in South African business and industrial context. We are excited to be a part of the journey to establish an internationally competitive firm."

Savant said in a statement that its investment in Visiosoft demonstrates the company's dedication to "nurturing cutting-edge technology" enterprises.

According to the company: "With a 20-year legacy of supporting innovation, Savant sees Visiosoft as a homegrown opportunity to drive growth in local industries while competing on the international stage."

"This investment represents a significant milestone for both Visiosoft and the EPF Tech Fund, reaffirming our commitment to nurturing innovation and driving positive change in South Africa. Visiosoft is primed for extraordinary success thanks to Savant's considerable knowledge and network. We are pleased to work with Savant and Visiosoft as they start on the next phase of their journey." Joanna Jacqueline Govender is the Chief Executive Officer of the EPF Tech Fund.

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