Wi-Fi hotspot specialist Skyrove has secured a multimillion-rand investment from 4Di Capital. The deal follows an investment by Cybersmart, an Internet service provider, and comes after an angel round backed by Vinny Lingham, founder of Yola, and Michael Leeman of Clicks2Customers.
“The 4Di transaction injects a significant amount of capital onto the balance sheet while bringing intellectual capital to the business via the active board participation of recognised industry players,” says Skyrove founder and chief technology officer, Henk Kleynhans.
Skyrove, which was founded four years ago in Cape Town, allows anyone to start a Wi-Fi hotspot and share their broadband Internet connection to earn an income. Today is has about 500 hotposts nationally and about 20 000 registered users.
4Di Capital, founded by Justin Stanford, who launched the high-profile Silicon Cape initiative with Lingham, is an early stage “nurture capital” investment company based in Jersey and focused on emerging markets like SA. The company funds promising technology, software, Web, media and telecommunications opportunities, from the earliest seed-stage through to late stage. — Staff reporter, TechCentral