Industry 4.0 solution business Stone Three has raised undisclosed expansion funding from venture capital (VC) firm Knife Capital.
In a statement, Knife Capital says the Cape Town-based Stone Three is an Industry 4.0 solution business that combines expert services with the power of machine learning to solve problems, increase operational productivity and keep people safer, healthier and happier.
It notes these solutions for artificial intelligence (AI)-augmented digital productivity, health and workplace safety include software offerings that scale at the enterprise level, contain advanced machine learning, video analytics, healthcare technologies and deep domain knowledge.
The VC firm points out the business has been self-funded to date by operations and shareholders, but this week secured expansion capital from Knife Capital to further enhance its enterprise product offerings and accelerate growth by putting the future of work in practice.
“Actionable insights and sustainable business value from data help fuel the fourth industrial revolution, and Stone Three partners with the firms that built the world of today to create the future of work by leveraging the benefits buried in their industrial data,” says Derick Moolman, Stone Three CEO.
“My former partners and I were fortunate to work closely with the Knife Capital founders in a previous successful venture and I’m excited to have this funder of choice alongside us in Stone Three’s growth journey,” he adds.
Moolman co-founded CSense Systems that secured funding from Mark Shuttleworth’s “Here-Be-Dragons” venture capital fund, managed by Knife Capital.
CSense was a process analytics start-up that developed rapid process troubleshooting and process improvement software solutions for industrial applications. In 2011, US-based GE Intelligent Platforms acquired the assets of CSense.
Keet van Zyl, partner and co-founder at Knife Capital, says: “It is a tough challenge to successfully blend data analytics with invaluable human experience and institutional knowledge to achieve measurable results in increasing operational productivity.
“Through our previous successful venture capital exit with Derick and CSense, we built a trust relationship and knowing the technology development capability of the Stone Three team, we are excited to be an investor here. We look forward to adding value in their continued growth journey.”
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