Africa’s first integrated tech company on a continental scale, Cassava Technologies, announced today that it has received a US$50 million investment from C5 Capital (C5), a venture capital firm that invests in cyber security, space security, and energy security.
The investment is a component of a larger capital round designed to hasten Cassava’s growth.
For C5’s cutting-edge portfolio firms to supply best-in-class cyber security, satellite and space technologies, and renewable energy, Cassava will be the go-to-market partner in Africa.
In order to help address the issue of cybercrime, C5 and Cassava have previously established a collaborative venture through which Haven Cyber, a C5 portfolio business, and Cassava will scale Microsoft’s suite of cybersecurity products across Africa.
Cassava Technologies’ founder and executive chairman, Strive Masiyiwa, claims that “Our strategy to obtain additional growth capital while expanding our investor base includes this investment from C5. With C5 on board, we can better realize our goal of creating a digitally linked future where no African is left behind “.
With operations in more than 20 African nations, Cassava Technologies has been at the forefront of providing cutting-edge technology solutions to local companies and individuals.
The company offers digital solutions to over 1 million businesses and internet access to over 500 million people in Africa through its wide offering, which also includes fiber networks, data centers, renewable energy, cloud, and cyber security.
The funding provided by C5 will aid in the acceleration of the initiatives Cassava has taken to improve digital inclusivity and connection across the continent.
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