This investment will provide the developers in Mobii Systems with funding to work on ongoing as well as new products. This start up is based in Cape Town, South Africa and it is seen by many as a start up with huge potential in the market of Sports technology. Blue Label Telecoms has acquired 26% shares of this start up seeing this potential.

Mobii Systems is known for its softwares for running events that time the racers and sprinters. Its developers also created the backbone for analysis of rugby matches on a platform called Stratus which is also used by Springboks. This software gives assistance to the managers, teams, coaches, referees and even the medical personals in acquiring the data, insights and tools to train better and enhance the performances of teams by analysing closely their strategies and work out routines. This technology is not only used by South African National Rugby Union team but also local rugby union teams in South Africa including the Lions, Griquas, Leopards and Southern Kings and a few others.

Mobii doesn’t publish the figures of its profit as it is a private company. Although, its Chief Executive Officer Richard Hartley has stated that the company is going revenue-positive as of now. He also stated that the goal is not to make profits but to build a stable and well organized business in the market of sports technology.

“Mobii’s team of engineers have, with very little funding, built two exciting and truly innovative applications that have massive potential to go global.” Said Tallies Taljaard. Tallies is the cofounder at Blue Label Ventures. According to him, Mobii is well on its way to raise its revenues by three times during current financial year.

“Most of our growth will come from international markets,” he kept on saying. “High performance sporting technology is a global, multibillion-dollar industry that is still fragmented and underserved.”