South African AI startup Locstat Secures Funding For Growth

Cape Town-based advanced analytics startup Locstat has secured an undisclosed funding round from Grindstone Ventures, a ZAR100 million (USD 6.5 Mn) fund dedicated to predominantly funding startups that have completed, or are part of, Grindstone Accelerator. as it readies for further growth.

 Locstat is a graph-powered AI and event processing solution for continuous analysis and visualization of real-time and static data from multiple sources. The startup enables customers to unlock previously unseen insights, with its AI solution analyzing the relationship between data points and beyond, which enriches the dataset used for analytics to inform better decision making. The technology assists with functions such as fraud detection, customer journey mapping, rules engine, and geo-spatial analytics, all in real-time.