Sanari capital backs Lightware LiDAR international enlargement – Drones Information
Sanari Capital, backed by leading institutional investor 27four, is pleased to announce its R25M (US $ 1.5M) investment in LightWare LiDAR, a South African company that is the world leader in world-class microLiDAR Sensor technology supplied.
LightWare was founded in 2012 and offers machines the eye for the development and manufacture of the world’s smallest and lightest LiDAR precision systems for use in drones, robots, autonomous vehicles, smart cities and other applications.
With over forty years of laser rangefinder management experience, LightWare provides cutting edge LiDAR technology to Halo global customers, including the world’s largest internet, logistics and drone companies. LiDAR is a remote sensing method that uses light in the form of a pulsed laser to measure the distance to objects. With more than 95% of the devices exported worldwide, LightWare has built a solid reputation as a global player in autonomous navigation and collision avoidance applications for LiDAR technology.
Sanari Capital, a private equity investment firm focused on high growth and international opportunity sourced primarily from South Africa, supports the company’s global expansion. “The company has already achieved international success in this niche and in the growing market. The company has attracted large multinational corporations as customers simply because of the reputation of its product and management team. With diligent marketing and the ability to present clients locally in international markets, we expect the company’s growth to accelerate dramatically, ”said Samantha Pokroy, CEO of Sanari Capital.
A tailwind for LiDAR was already apparent when the transaction was initially considered. This was due to the gradual government opening up of autonomous drone delivery in the United States and the widespread use of drones for delivering life-saving medical care to remote areas in Africa. However, the outbreak of the COVID-19 pandemic has further accelerated the adoption and use cases for LiDAR technology. With emerging megatrends such as the demand for contactless solutions (delivery by drone, workplace robot, IoT monitoring and management), telemedicine, delivery of test kits and vaccines, and e-commerce, the demand has increased.
“LightWare offers not only an opportunity for attractive financial returns, which is confirmed by the profiling of the seasoned investment bank Woodside Capital Partners of Silicon Valley as one of the 99 world-leading growth companies that are expected to thrive in the midst of the pandemic, but supported they also focus on Sanari’s “doing good while doing well”. We are delighted that LightWare can play such an important role in the response to COVID-19 by promoting the South African industry on a global platform and creating jobs and skills for our local market, ”said Moushmi Patel, Partner at Sanari Capital.
James Portman, Founder and CEO of LightWare, said, “Any business with ambition reaches a point where it is time to look for investment – and this time it has come for LightWare. We are pleased that Sanari Capital has been accepted as a partner in our steadily growing company. LightWare is facing massive international expansion. Our partnership with Sanari will fuel this aggressive growth and allow us to quickly bring a range of innovative products to a global audience. “
“We are also pleased that this investment signals the beginning of our partnership with 27four, which is currently being launched in addition to Sanari’s new fund for the lower and middle market (Sanari LMM Fund) amounting to 1.5 billion R1 Sanari has worked together to store the investment for the new fund. LightWare will therefore be the first investment for the Sanari LMM Fund, with another investment for the current fund, ”says Pokroy.
Rory Ord, Head of Unlisted Investments at 27four, said, “We are excited to assist Sanari in completing their investment in a cutting edge company like Lightware and have worked closely with the Sanari team throughout the investment process. We look forward to closing the Sanari LMM Fund and further investments with the team. “
Visit the company’s website to learn more about www.lightwarelidar.com