Spatialedge, established in 2017 and headquartered in Stellenbosch, South Africa, is a pioneering data and applied artificial intelligence (AI) startup under the leadership of Retief Gerber. Specializing in assisting businesses in the effective development and implementation of machine learning solutions, Spatialedge boasts a dedicated team of engineers and cutting-edge tools to facilitate seamless integration into organizational systems.
The startup has reported exponential revenue growth exceeding R300 million ($15,768,261) and has cultivated partnerships with numerous multinational enterprises across Africa. Securing new capital marks a significant milestone for Spatialedge, signaling its ambition to revolutionize the retail sector. Following the investment, the CEO expressed enthusiasm, highlighting seven years of collaborative efforts with clients to research, develop, and deploy solutions addressing real-world business challenges.
“With this recent investment boost, we can expedite the rollout of these solutions in the market, making them accessible to a broader customer base,” stated the CEO.
Spatialedge underscores its commitment to enhancing enterprise operational decision-making through its innovative solutions. The Hlayisani Growth Fund, an equity fund focusing on African technology-powered companies in the growth stage, facilitated the investment. Launched in the first quarter of 2023, the Hlayisani Venture Fund II targets investments in medium and large high-growth technology-enabled companies, particularly those linked to South Africa.
Mathew Palin, a partner at the Hlayisani Growth Fund, commended Spatialedge’s track record with prominent brands and advancements in the big data and AI landscape, aligning with the Fund’s investment philosophy. He cited Spatialedge as an exemplar of companies the Fund aims to support through the Hlayisani Venture Fund II.
Source: TechpointAfrica