DataProphet, a South Africa-based world-leading AI-as-a-Service (AIaaS) for manufacturing innovators, announced that it completed a $10 million Series A funding round.

The round was led by Knife Capital, joined by South Africa’s IDC and Norican – the world’s largest metal surface preparation and finishing equipment provider.

DataProphet will use the fund to support focused expansion in a few regions and manufacturing sectors while making additional investments in its suite of award-winning industrial AI products.

Company: DataProphet Proprietary Limited 

Raised: $10.0M

Round: Series A

Funding Month: Aug 2022

Lead Investors: Knife Capital

Additional Investors: South Africa’s IDC and Norican

Company Website: https://dataprophet.com/

Software Category: AI-as-a-Service for Manufacturing

About the Company: DataProphet is an AI-as-a-Service company of machine learning specialists with a global presence. Through advanced machine learning, its AI solution suite is proven to reduce defects and scrap by at least 50 percent and improve plant efficiency. DataProphet provides end-to-end prescriptive AI for manufacturing plants to improve their yields. DataProphet connects displays and configures production data from multiple devices and plants, rendering your manufacturing processes ready for AI-guided optimization. DataProphet has been recognized as both a Technology Pioneer and a Global Innovator by the World Economic Forum (WEF), a leader in Manufacturing Technology Innovation by Frost & Sullivan, and an innovative company driving exponential shifts in AI by Forbes. DataProphet’s venture-backed AI for manufacturing solutions has helped customers worldwide adopt data-led production systems.

Source: https://dataprophet.com/blog/dataprophet-closes-10m-investment-to-lead-the-digital-maturity-journey-for-manufacturers/