Industry 4.0 solution company Stone Three has raised undisclosed expansion funding from venture capital (VC) firm Knife Capital.
“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,” said 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 added.
Business solutions for Industry 4.0 Knife Capital, a venture capital firm, has provided Stone Three with undisclosed expansion funds.
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Why Knife Capital Invested
The VC firm notes that the company has been self-funded to date by operations and shareholders, but Knife Funding provided expansion capital this week to help the company improve its enterprise product offerings and accelerate growth by putting the future of work into practice.
CSense Systems, which Moolman co-founded, received money from Mark Shuttleworth’s “Here-Be-Dragons” venture capital fund, which is managed by Knife Capital.
CSense was a process analytics start-up that created software solutions for industrial applications for rapid process diagnostics and process improvement.
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CSense’s assets were purchased by GE Intelligent Platforms, a company based in the United States, in 2011.
“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,” Keet van Zyl, partner and co-founder at Knife Capital, said.
“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.”
A Look At What Stone Three Does
Based in Cape Town Stone Three is an Industry 4.0 solution company that combines professional services with machine learning to solve problems, boost operational productivity, and make people safer, healthier, and happier.
It mentions software options that scale at the enterprise level, including powerful machine learning, video analytics, healthcare technologies, and deep domain knowledge, as well as AI-augmented digital productivity, health, and workplace safety.
Industry 4.0 Stone Three Industry 4.0 Stone Three
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer