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SA innovator, IoT.nxt has secured R100-million from its investor and funding partner, Talent Holdings. This significant cash injection has helped IoT.nxt expand into their new office in London. Their new space serves as their European base of operations as they continue to scale into more markets.
“We are using the momentum that we have built up in South Africa with industrial applications that we are implementing in various sectors like the mining, ports, and health care industries, facilities management, automotive retail, smart buildings and food processing,” said IoT.nxt CEO, Nico Steyn in a press release to Ventureburn.
“Our traction in South Africa serves as a great launchpad to do the same in Europe,” he continues.
Steyn reasons that expanding into the UK and other European markets offer exciting opportunities for the company. According to Steyn regardless of SA being behind in terms of IoT adoption, the nation’s market is rapidly catching up and in some instances, even ahead.
Steyn also recently attended the IoT Tech Expo in London recently where he not only exhibited his work but also spoke about issues relating to IoT.
IoT.nxt plans to take on European markets as they move into their London-based offices
“It was an exciting opportunity at probably the pre-eminent IoT conference with over 5000 attendees and hundreds of exhibitors. We were truly privileged to be able to rub shoulders with the leading lights in the IoT industry and some very exciting potential clients,” said Steyn.
“We certainly got to experience the hype and excitement that exists in Europe and the UK around the potential impact of IoT on the global economy,” he added.
According to Steyn when it comes to IoT frameworks on show at the exhibition, IoT.nxt’s solution is “world leading”.
“We are grateful for the confidence Talent have shown with this latest round of funding and believe this will cause another shift in our growth. We will apply these funds further step up innovation and at the same time extend the productization of the platform into specifically target market sectors,” Steyn concluded.