Naspers is planning to deploy more capital through its Naspers Foundry in 2021 to accelerate digitisation and create more jobs in the country. Photo: File
Naspers is planning to deploy more capital through its Naspers Foundry in 2021 to accelerate digitisation and create more jobs in the country. Photo: File

Naspers Foundry to help more tech start-ups

By Sandile Mchunu Time of article published Feb 19, 2021

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DURBAN - NASPERS is planning to deploy more capital through its Naspers Foundry in 2021 to accelerate digitisation and create more jobs in the country.

Head of Naspers Foundry Fabian Whate said yesterday it had invested R200 million to help four tech start-ups by providing financial support.

“We are bullish about 2021 and we want to accelerate our investment in digitisation. We are going to deploy more capital to do more deals than we did in the past years. In the next few months we are expecting to announce one or two more deals for 2021,” Whate said.

Naspers Foundry, a R1.4 billion South Africa-focused start-up funding initiative that helps talented and ambitious South African technology entrepreneurs develop and grow their businesses.

It has invested R30 million in SweepSouth, an online home and business cleaning services platform that connects clients with reliable cleaners. It also invested a R100m in Aerobotics, an agritech company that provides tree crop health and yields intelligence data to the agricultural industry, using drone and satellite-enabled AI technology.

The company has made a further investment of R45m in The Student Hub, an online learning platform that increases access to vocational education to large numbers of students while reducing the cost of delivery of education and training.

In September last year Naspers Foundry closed a transaction in Food Supply Network, an independent B2B marketplace that integrates ordering systems of manufacturers, distributors, and buyers of food products, on undisclosed terms.

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