Asimmetric, a Cape Town-based Enterprise WiFi monitoring startup, has raised an undisclosed amount of funds from leading Silicon Valley investors in a funding round.
The funds will be used by Asimmetric to launch the next generation of its products, expand its engineering team in Cape Town and grow its commercial office in San Francisco, USA.
Avidan Ross, who will join the the startup’s Board of Directors said, “Having spent part of my career in IT management, I only regret that Asimmetric didn’t exist when my team fielded trouble tickets. As WiFi becomes more critical to businesses, we believe Asimmetric will become an essential tool for IT managers.”
“One year ago my co-founders and I were hand-assembling our devices in a basement in Cape Town,” said Asimmetric’s David Wilson.
He added, “Now we have teams in South Africa and San Francisco, our devices are being used on three continents and we are backed by some of the best hardware and IoT investors in the world.”
The investment was led by Avidan Ross’ Root Ventures, an early-stage venture fund focused on hardware, logistics and manufacturing, and engineering design.
Also joining in the funding round is Bolt, a venture capital firm that invests exclusively in early stage companies at the intersection of hardware and software, and Semil Shah-founded Haystack, which has invested in over 70 companies, including Instacart, Doordash and Giphy.
In addition, Asimmetric’s existing angel investors increased their investment in the startup.
The funding comes just months after Asimmetric became the first South African startup accepted into Highway1, the leading hardware accelerator program based in San Francisco.
“We’ve come a long way, but this is still the beginning of our journey. We believe the Internet is the most important technology of our lifetime, and we want to make it better for everyone,” adds Wilson.
Through its Bot, Assimetric is improving Internet quality. The startup has already installed its Bots in shopping malls, hospitals, hotels and restaurants in Johannesburg, Cape Town and Durban, remotely providing network operators with important details of Wi-Fi hotspots.
Asimmetric was founded in late 2013 by David Wilson, Ross Douglas, Michael Champanis and Fouad Zreik.