South African AI SaaS startup DataProphet raises $10 million

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.