DURBAN - Knife Capital, a South African venture capital firm, has invested in a Swedish start-up according to Biz News.
This is Knike Capital's first global investment since the company opened their doors in London. They are, along with King Digital Entertainment, are investing in a Stockholm based IoT specialist.
The company clinched their first European investment by taking part in a R22 million funding round by Mobile and Sensory Technology (MOST).
King Digital Entertainment, a British and Swedish game studio, are the creators of popular game Candy Crush.
The investment between Knife Capital' London Office and MOST was facilitated by Springbok rugby captain Bob Skinstad.
Skinstad is the director of the London office and will be on the MOST board along with King Digital co-founder Lars Markgren.
MOST is a hardware and software start-up that focuses on innovations that can be applied to the rapidly expanding exploding Internet of Things (IoT) sector.
Their breakthrough product is a sensor which monitors and transmits data, in real time, on things like positioning, temperature and humidity.
The sensor is connected to the cloud to allow customers to track their consignments.
This sensor will be useful because most if the world's food gets destroyed during transport due to temperature fluctuations, freight load shaking or humidity.
Jon Hjertenstein, the MOST CEO, said "Our product is already market leading functionality and performance.
Bob Skinstad said that they are excited to partner with an accomplished team and credible co-investors in this technology-rich IoT start-up that has already had a proven product.
- BUSINESS REPORT ONLINE