Cassava Technologies, the first technology firm in Africa to operate on a continental scale, announced that it got $ 50M investment funds from C5 Capital. This VC firm invests in energy, space, energy and cyber security.
Cassava’s expansion will be accelerated with the help of this investment, which is a piece of a more significant financing round.
Cassava will serve as the go-to-market partner within Africa for C5’s innovative portfolio firms, delivering top-tier sustainable energy, satellite and space technology, and cyber security solutions.
Haven Cyber, C5’s portfolio firm, and Cassava will grow Microsoft’s suite of cybersecurity solutions throughout Africa as part of a collaborative venture that C5 and Cassava have already established to contribute to the fight against cybercrime. C5 and Cassava launched this venture in the past.
Strive Masiyiwa, the Executive Chairman and founder of Cassava Technologies, said, “Our objective is to seek more expansion capital while extending our investment portfolio, including this investment from C5.”Having C5 on board, we will be able to more effectively accomplish our aim of building a digitally linked future in which no African country be left behind.
Cassava Technologies is operational in over twenty African countries and has been at the forefront of introducing cutting-edge technological solutions to individuals and local businesses.
Through its extensive portfolio of products and services, which also includes data centre fibre networks, renewable energy, cloud computing and cyber security
The firm provides digital solutions to over one million businesses and internet access to more than half a billion people in Africa.
The financing that C5 is offering will assist in the quickening of Cassava’s steps to increase digital inclusion and connectedness throughout the continent.