South African’s IoT.nxt Raises US$7.7 Million to Expand into Europe

IoT.nxt, a South African software dev company that delivers innovative software and hardware solutions for the Internet of Things (IoT), has raised US$7.7 million (ZAR100 million) from Talent Holdings to expand into Europe.

Launched in 2015, IoT.nxt has developed a world leading framework that makes the efficiencies, cost savings and increased revenue from IoT a reality for businesses.

The framework is technology agnostic, allows for the deployment of best of breed technologies (hardware/sensors/subsystems) and, at the same time, achieve interoperability and interconnectivity between all the currently deployed systems and devices from the edge to the cloud.

IoT.nxt been recognised by leading organisations and companies, including Microsoft, Da Vinci Institute and Gartner, for its innovation, and its clients are spread across the globe.

Last year, the startup announced it’ll open an office in London early this year. It will now expand further into Europe on the back of this fresh investment from its funding partner Talent Holdings.

“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. Our traction in South Africa serves as a great launchpad to do the same in Europe,” said Nico Steyn, IoT.nxt CEO.

Plans to expand into Europe were kick started October last year, after IoT.nxt attended the IoT World conference in Barcelona, Spain. From Europe, the company will make plans to launch globally, making its solution available to all and sundry.

 

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