Cape AI, a South African tech firm, has been purchased by Spatialedge, an AI solution provider headquartered in Stellenbosch. Cape AI, founded in 2019 by Pieter Boon and Adit Mehta, assists businesses in growing by helping them to make smart decisions using AI technology. The acquisition is part of Spatialedge’s expansion strategy.
South Africa is the African region’s fourth most funded and transacted geography. South Africa has been particularly active in M&A activity, in addition to being one of the top geographies. South African startups exited 18 times last year, the most in the country’s history. This year, the startup has continued to grow in terms of exit activity, nearly matching last year’s total with Q4 still to go. UCOOK, a meal kit delivery service, and Radar, an HR help programme, have both made major purchases. South Africa is also the location with the highest number of Exits among the major African markets.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh