South Africa’s Cassava Technologies Raises $50m From C5 Capital

Cassava Technologies reveals C5 Capital as its capitalist investor that is obliged in completing its $50m funding-raising investment initiative to promote its integrated technology services across the continent. Cassava Technologies is an integrated technology solution prominent in the pan-African digital ecosystem and the investment deal it bagged from the capitalist company will aid its expansion scheme in leading digital inclusion in Africa.

Cassava Technologies announced the $50m investment it secured from C5 Capital which the venture capitalist also noted to contribute to its subsequent cyber security company dubbed Cyber Haven to accelerate Cassava Technologies’ initiative to integrate technology solutions in Africa. As Cassava Technologies sets to continue its accelerated digital connectivity inclusion it tallies with its investor’s intent to also drive energy security and cyber security inclusion in Africa.

C5 Capital has reportedly committed to investing Pan African technology ecosystem as well as its subsequent technology company’s involvement in innovating African technology. The $50m investment initiative that binds C5 Capital, Cassava Technologies, Liquid Cloud & Cybersecurity, and Haven Cyber will focus on innovating the Pan African technology ecosystem via cybersecurity, and energy security.

The likes of Cassava Technologies and Haven Cyber are top-notched Pan African cyber security companies that will integrate their services with the Microsoft cybersecurity suite product backed with millions of dollars to tackle cybercrime in the continent while C5 capital remains the cash cow. Cassava Technologies Founder and CEO, Strive Masiyiwa announced his company has approved C5 and its Haven Cyber as investors in his pan-African business.

Masiyiwa’s announcement noted that his company has been keen to accelerate its technology involvement in Africa as a branched-out product service that is currently present in twenty African countries to leverage technology innovation that will “leaves no African behind.” Masiyiwa’s Cassava technology company is dedicated to serving local businesses with soluble cyber security.

Aside from the $50m and Haven Cyber’s investment C5 Capital granted to Cassava Technologies, the venture capitalist CEO, André Pienaar also noted that their commitment to innovative Africa’s digital ecosystem will also include provisional data centres, cloud, fibre networks, renewable energy, and Cyber security will supersede them all. Pienaar said his investment in Cassava Technologies’ cybersecurity solution will establish another technology-inclined network to accomplish accelerated services.

“Recent industry reports highlight that cyber security threats cost Africa close to US$4.1 billion in lost GDP in 2021. This is primarily due to the massive increase in the adoption of technology in businesses and governments across Africa and increased vulnerabilities as cyber-attack technologies evolve. Today’s investment from C5 and our pan-continental partnership will enhance our ability to enable our customers to build secure and stable cloud-based digital services critical to transforming lives on the continent,” Cassava Technologies president, Hardy Pemhiwa said.

Cassava Technologies’ president’s comment confirmed that the $50m they secured from C5 Capital is more than an investment initiative but a partnership scheme whereby C5 offered its subsequent technology company, Haven Cyber whilst Liquid Cloud & Cybersecurity company a subsequent of Cassava Technologies will be involved to accelerate technology innovation in Africa.

For context, the likes of Cassava Technologies, Liquid Cloud & Cybersecurity, Haven Cyber, and C5 Capital is a joint force of expertise in establishing state-of-the-art Cyber Security Operations Centres (CSOCs). According to Pemhiwa’s comment, the CSOC will launch in South Africa before the 2022 countdown elapse and it will be suitable for FinTech, e-health, e-commerce, and other technology-inclined integration.

Source: TechBooky Africa