Leading industry 4.0 solution business, Stone Three, has secured expansion funding to drive growth by putting the future of work in practice and further improve its enterprise product offerings.
The South African startup which had been self-funded by shareholders and operations, has now secured funding from Knife Capital, a venture capital firm.
Expressing confidence in the decision to invest in Stone Three, Keet van Zyl, partner and co-founder, Knife Capital, said:
“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.”
Stone Three combines expert services that are facilitated by the power of machine learning to solve problems thereby increasing operational productivity and keeping people healthier, happier and safer.
It leverages its enterprise software expertise, extensive domain knowledge, device capabilities and data science to develop sustainable solutions for recurring problems in important global industries.
Stone Three’s end-to-end solutions include healthcare technologies, software offerings at enterprise level, deep domain knowledge, video analytics, and advanced machine learning.
Speaking on the funding and partnership, Derick Moolman, CEO, Stone Three, said, “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.
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.”
Moolman previously co-founded CSense Systems, which was acquired by the US-based GE Intelligent Platforms in 2011.
CSense Systems, which was a process analytics startup that processed improvement software solutions for industrial applications and developed fast troubleshooting process, had secured funding from Mark Shuttleworth’s “Here-Be-Dragons” venture capital fund which was managed by Knife Capital.
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