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Local tech company Alphawave secures R100m investment from Kagiso Capital

17 November 2020 8:31 PM
Tags:
Stellenbosch
The Money Show
Bruce Whitfield
Artificial Intelligence
Innovation
AI
tech companies
Alphawave
Kagiso Capital
golfball tracking radar system
technology investment

Products developed by the Stellenbosch-based group include a radar system which accurately tracks balls on a golf course.

Bruce Whitfield introduces Alphawave as a then little-known tech company started by maths PhD candidates in the 90s.

Among its many achievements, the Stellenbosch outfit contributed to building one of the most sophisticated telescopes in the world.

What it does says Alphawave, is look for product opportunities that are internationally scalable.

These include an advanced ball tracking radar system for golfers, both serious and social.

Technology, handshake. Image: pixabay.com

Now Kagiso Capital's invested R100 million in Alphawave - what was it that caught the investment holding company's attention?

We just stumbled across these 144 highly specialised and globally renowned engineers... who managed to bootstrap building tech hardware for over 25 years... their cutting edge solutions...

Lebogang Mosiane, COO - Kagiso Capital

You build it cheaply in South Africa and then you export the idea - that's the attraction, isn't it?

Bruce Whitfield, The Money Show host

When we discovered this, we considered similar companies that are state-owned like the CSIR [Council for Scientific and Industrial Research] and how we could over time maybe share learning, share best practise... across the globe...

Lebogang Mosiane, COO - Kagiso Capital

... but this was a gem and really unexpected... It kicked out all our investment criteria of how you look at something like this and we had to fly down our board members to actually go and see...

Lebogang Mosiane, COO - Kagiso Capital

Mosiane says Kagiso Capital deployed the first tranche in March and more recently, the second R50 million.

So far it's been an amazing learning journey seeing how the guys think; how they approach businesses...

Lebogang Mosiane, COO - Kagiso Capital

For more on Alphawave, listen to the conversation below:




17 November 2020 8:31 PM
Tags:
Stellenbosch
The Money Show
Bruce Whitfield
Artificial Intelligence
Innovation
AI
tech companies
Alphawave
Kagiso Capital
golfball tracking radar system
technology investment

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