SOUTH AFRICA, 30, JULY, 2019 –
Venture capital company, Blue Label Ventures announced on Tuesday, 30 July 2019, that it has invested in Cape Town-based technology startup Mobii Systems. The deal will see Blue Label take up 26 per cent of Mobii developers the funding needed for product development, as well as access to a wider customer base and increased market share.
“Blue Label Ventures identifies and invests in disruptive businesses that have the potential to reach new markets and achieve global commercial success,” says Tallies Taljaard, co-founder of Blue Label Ventures. “Mobii’s team of engineers have, with very little funding, built two exciting and truly innovative applications that have massive potential to go global”.
“Through our investment, we will enable the business to grow and take advantage of opportunities for expansion into new markets. High-performance sporting technology is a global multi-billion-dollar industry that is still fragmented and underserved.”
Mobii develops a wide range of custom-designed electronic hardware, handles large scale applications and can be adapted for similar markets to collect IoT datasets.
Mobii’s developers built the backbone for rugby match analysis on the Stratus platform, which gives teams, managers, coaches, medical personnel and referees the data, tools and insights to help them plan their strategy and perform at their best.
Stratus collects and processes billions of data points to create simplified reporting and predictive analysis tools. “Our long-standing relationship with the Springboks and SARU provided us with the insights to build this truly world-class platform,” says Roderick Barrett, Co-founder of Mobii Systems.
“Blue Label Ventures’ investment will enable us to take our performance enhancement technology to a much broader market, to open doors, and to engage with much bigger players around the world. Mobii’s latest timing technology is now operational in France, Switzerland, Australia and the United Kingdom, to name a few countries, but we still have a path to travel before we can call ourselves a truly global company,” says Barrett.
Mobii CEO, Richard Hartley says, “Mobii’s timing and sports analysis technology will be integrated into other new applications in the future. What’s crucial now is being able to access more resources to accelerate the commercialisation of our technology and introduce it to a global audience”.
Read the full IT NEWS AFRICA report here: https://www.itnewsafrica.com/2019/07/blue-label-ventures-invests-in-south-african-tech-startup/
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