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US investment analytics platform CB Insights today named Cape Town based artificial intelligence (AI) startup Cape Town-based machine learning startup DataProphet, as part of the fourth annual AI 100 ranking.
The ranking showcases the 100 most promising private artificial intelligence companies in the world.
These companies span the globe, from the US, UK, China, Chile, and South Africa, and are supported by more than 600 investors.
DataProphet, which was founded in 2014 by Frans Cronje (pictured above) and Daniel Schwartzkopff, employs machine learning to aid companies in developing products and solutions, with a particular focus on the manufacturing sector.
The CB Insights research team selected Dataprophet and the AI 100 from nearly 5000 companies
In a statement by Dataprophet today, Cronje said he and his team were “delighted” to be recognised by CBI Insights as one of the most promising AI companies in the world. He noted that only four AI companies in the manufacturing sector selected.
DataProphet describes its Prescribe software as an expert execution system (EES), enabled by AI. It said the startup continuously monitors and prescribes optimal changes to the control parameters of a manufacturing plant to pre-emptively avoid any quality failures in the course of production.
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty.
The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
CB Insights CEO Anand Sanwal said in the same statement that the 2019 AI 100 saw 48 companies go on to raise $4.9-billion of additional financing, while nine of these companies were acquired.
The AI 100 Companies (in alphabetical order):
Benson Hill Biosystems
Squirrel AI Learning
Zebra Medical Vision
Read more: DataProphet listed by World Economic Forum in its Technology Pioneers of 2019
Read more: DataProphet wins AIconics Award for Best Innovation in Deep Learning [Updated]
Read more: DataProphet secures ‘multi-million dollar’ funding from Knife Capital
Read more: DataProphet hopes to leverage Yellowwoods investment for international expansion [Updated]
Featured image: DataProphet co-founder and MD Frans Cronje (Supplied)