DataProphet raises $10 million to scale its AI-as-a-service offerings
Technology Venture Capital

DataProphet raises $10 million to scale its AI-as-a-service offerings

DataProphet, a South African company founded by Frans Cronje and Daniel Schwartzkopff that offers AI-as-a-service software in the manufacturing sector, has completed its $10 million Series A round.

Cronje, the company’s CEO, told TechCrunch during a call that DataProphet began focusing on providing end-to-end prescriptive AI for manufacturing plants to improve yield in 2017. The company offers prescriptive advice and suggested changes to manufacturers’ recipes to avoid making the defects that result in their products being scrapped or reworked. The company claims that its flagship AI solution, PRESCRIBE, has had a significant and practical impact on the factory floor, lowering the cost of non-quality by an average of 40%.

Manufacturers use DataProphet at various stages of their digitization journeys; data collection and centralization are critical to getting them started. CONNECT, the first product in DataProphet’s stack enables manufacturers to augment their data infrastructure and move data from where it has been used for compliance in the manufacturing space to where it can be used for optimization. The company currently receives approximately 100 million unique data points on its platform daily. Using this information, PRESCRIBE can make informed decisions to reduce defects, scrap, or poor-quality processes and increase manufacturer yield.

Cronje says that DataProphet takes a hands-on approach, continuously monitoring data streams and pushing advice and feedback to the operating floor, ensuring that its clients comply. In cases where customers do not follow the advice provided by DataProphet, the company engages with the customer to understand their concerns.

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