LightWare LiDAR, a South African producer of machine sensor technology has raised US$1.5-million (R26-million) from Sanari Capital. LightWare was established in 2012 and has the ability to design and manufacture the smallest precision LiDAR systems typically used om machines, robots, drones and autonomous vehicles. Its customer base is a diversified mix of autonomous vehicle companies, logistics corporates and drone businesses. The funding raised is intended to increase spending on research and development on innovative products.
Sanari Capital is a private equity firm established in 2013 to invest in companies in the lower and mid-market in South Africa and the rest of Africa. Sanari Capital specialises in founder-run, owner-managed, and family-owned businesses bringing corporate best practice to entrepreneurial settings. The firm has invested in EduLife, Fernridge, Snapt, Jaycor and Sensor Networks among others. The stake acquired by Sanari Capital in LightWare was not disclosed.