SA startup Ashanti AI raises funding from Argility

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South African startup Ashanti AI, which aims to make data science accessible to businesses of all sizes, has received a “substantial investment” from Argility as it looks to grow its customer base.

Founded in 2018, Ashanti AI services industries in the finance, education and mining sectors, providing data-driven solutions that increase revenue and efficiencies.

The company has built a team of highly qualified specialists in the fields of data science, actuarial science, statistics, physics and mining engineering, and has developed partnerships with Explore Data Science Academy and several data consulting firms to empower businesses with globally competitive tools and techniques. Its current customer base includes a number of blue-chip corporates. 

“We started as part of an incubation hub linked to a data science academy. Since leaving the hub, we have grown our client base and developed a number of proprietary solutions,” said Ashanti AI chief executive officer (CEO) and founder Takalani Madzhadzhi.

Going forward, the company is focused on building predictive analytic products for the retail, supply chain and financial services sectors, and it has secured undisclosed but “significant” investment from Argility Technology Group, a leading implementer of customised enterprise software solutions for the retail and supply chain industries, to help it grow in these spaces.

Argility CEO Marko Salic said there was a mutual vision and mission that meant it was a strategic move to bring Ashanti AI into the Argility ecosystem.  

“This emerging business will be a strong addition  to our current retail, supply chain, Internet of Things (IoT) and fleet expertise, and we feel it will serve to drive our focus on combining analytics with trending 4IR technologies supported by our current products and solutions,” he said.

“The synergies between Argility’s vision and Ashanti AI’s mission made this investment very appealing to us and a good fit that will augment our goal of digitally transforming our core business focus arenas using intelligent software, data science/AI, and IOT. Ashanti AI assists companies to increase revenues, make decisions faster and improve processes using AI. Combining these strengths will serve to enhance the Argility Technology Group’s portfolio and thus expand our solutions and service delivery for current and future customers.”

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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