DataProphet, a South Africa-based AI software-as-a-service (SaaS) startup has raised $10 million in its Series A funding round led by Knife Capital with participation from other investors.
- The fund will be used to develop the startup's AI product stack, support its expansion to new geographies and manufacturing verticals, and support international sales.
- Founded in 2017, DataProphet provides end-to-end prescriptive AI for manufacturing plants to improve their yields. Its AI solution, PRESCRIBE, has improved manufacturing and reduced the cost of non-quality by an average of 40%.
- Its first product, CONNECT, enables manufacturers to augment their data infrastructure and move data from the point of use for compliance to optimization.
- IDC and Norican based in South Africa participated in the round.