Denis Opudo
DataProphet, a Cape Town-based startup which develops and implements machine learning solutions received multi-million dollar funding from Knife Capital. The funds will be used for the expansion of the startup. Previously, DataProphet received funding from Yellowwoods private investment group.
The startup helps its customers by ensuring they get yield increment by optimizing manufacturing processes. Besides, the startup provides their solutions for various industries in South Africa and other parts of the world. The recent funding will be used to help in the startup’s global expansion.
Knife Capital which offered the funds has its offices in London and Cape Town. The company has also invested its funds in companies like Quicket. The main reason for funding such startups is to encourage innovation and global expansion of these startups.
According to the managing director and co-founder of DataProphet, Frans Cronje, he welcomed the idea of partnering with Knife Capital. He acknowledged the role that Knife Capital plays in ensuring that startups grow and access global markets.
Andrea Bӧhmert who is an investment partner at Knife Capital said that DataProphet gives the best example to entrepreneurs on how to utilize technology. He also said that the global relevance of the startup in the market remains of good value and people should take an example from the startup’s team. Finally, Andrea said that he was happy to partner with the team from DataProphet.
