Grace Ashiru
Spatialedge, a startup based in South Africa specializing in data and applied AI solutions, has successfully raised ZAR60 million (approximately US$3.1 million) to advance its mission of transforming the retail industry.
Established in Stellenbosch in 2017, Spatialedge focuses on providing big data and applied machine learning solutions to enable businesses to rapidly develop and deploy effective machine learning strategies.
With a revenue surpassing ZAR300 million (around US$15.7 million), the company has experienced substantial growth and recently secured a ZAR60 million (US$3.1 million) investment from Hlayisani Capital.
Retief Gerber, CEO of Spatialedge, remarked, “For seven years, we have collaborated closely with our clients to research, develop, and deliver innovative, customized solutions that address genuine business challenges.”
He added, “With the recent investment boost, we can now speed up the process of bringing these solutions to market, making them available to a broader audience.”
Spatialedge intends to enhance its product offerings and expand its research and development efforts with the additional funds.
