Retief Gerber, CEO of Spatialedge, said:Photo: Konrad Blum
Data and applied AI solutions company Spatialedge has announced the completion of R60 million in funding from Hlayisani Growth Fund, marking a key milestone in its mission to transform the retail industry.
Launched in 2017, this South African advanced technology business currently operates in Stellenbosch. It enables companies to build and operate fast, robust machine learning solutions and drive business value through a set of decision-making tools and a team of expert engineers who specialize in integrating solutions into core business systems. It can be achieved more quickly.
Since then, the company has experienced rapid growth, with revenues of over R300 million and established a track record of credibility and success with many of Africa's largest multinational companies.
“For seven years, we have worked directly with our customers to research, develop and deliver cutting-edge, customized solutions that solve real-world business problems,” said Spatialedge CEO Retief Gerber. did. “Our recent investment enhancements have allowed us to accelerate the process of releasing these solutions to market and make them available to more customers.”
It added that the capital will allow the company to expand its research and development activities and strengthen its product lineup. This further solidifies our position as a key player in the transformation of both the retail and financial industries through the launch of innovative technology solutions.
“Our product portfolio has been developed over many years and has been meticulously crafted and refined through a wide range of real-world applications,” said Gerber. “This hands-on experience not only validated the effectiveness of our technology, but also enabled continuous improvement based on direct feedback and evolving market needs.”
The advanced AI solutions developed by the company are all focused on optimizing operational decisions in Garberg-related companies. This includes optimizing retail product pricing, capital allocation, labor schedules, and markdowns.
“These solutions are powered by great delivery teams and a core platform that accelerates the development of machine learning models and streamlines the process of bringing those models into production,” Gerber said.
One piece of evidence of Spatialedge's influence comes from the Pepkor Group.
Jason Peisl, Group CIO at Pepkor, said: “Pepkor has been investing in advanced analytics and AI solutions since 2017 and has seen significant improvements across supply chain, logistics, pricing, scaling, and marketing. We are excited to continue our partnership with Spatialedge and leverage the acceleration that their technology and services enable. AI is becoming a key element of the retail industry, and we strive to remain the AI leader in the retail industry.”
Hlayisani Growth Fund is a South African fund focused on investing in high-growth, high-impact African technology companies. The fund is not aimed at start-ups, but rather at growth-stage companies that have proven their business models and are looking to expand domestically and internationally. It aims to support companies that demonstrate the potential for industry leadership and sustainable innovation.
Raisani Growth Fund’s R60-million investment in Spatialedge to spearhead retail innovation as R700-million Raisani Venture Fund II, launched on first quest in 2023, approaches exit stage This shows a strong belief in the company's continued potential.
Mathew Palin, partner at Hlayisani Growth Fund, said: His track record with leading brands and his commitment to big data and advancing the AI landscape align perfectly with our investment philosophy. We believe that Spatialedge is well-positioned to continue to make a significant impact on the industry. We look forward to supporting them on their journey and helping them reach new heights. ”
“Staying ahead of the curve in retail means tracking emerging technology trends while fully embracing innovative technology, and our business can easily achieve this. ” Garber concludes. “Local innovation plays a key role in driving technological progress, and the potential benefits of using AI-powered solutions in the retail sector cannot be overstated. there is no.”
