Savant recently closed off a seed investment round into Locstat; a deep tech graph intelligence and AI platform that is revolutionising the way data-hungry, high-growth and enterprise businesses operate.
Savant joins the likes of early-stage venture capital firms Grindstone Ventures, and Digital Africa Ventures, in backing Locstat’s seed round.
Nick Allen, Savant’s Managing Partner commented;
“Savant is delighted to invest in Locstat, a company making graph technology more widely available to companies at all stages of their growth journey. In particular, it’s relevant to our portfolio of hardware companies that are creating large volumes of valuable data points.
Locstat has a fantastic team on board and has demonstrated solid early traction. We’re looking forward to an exciting journey with them as their growth accelerates. We are also very happy to be investing alongside like-minded investors such as Grindstone Ventures, Digital Africa Ventures and Strat Tech.”
The Locstat solution
Initially founded as a technology company, Locstat has developed over time and adjusted their product offering as they grew in domain knowledge and expertise. Today, the company specialises in building and deploying complex, highly-scalable, graph intelligence solutions, in the most frictionless manner possible.
Locstat helps customers make better use of their data and data sources to intelligently create predictability, save on efficiencies, create additional value-adds, combat fraud and seamlessly maintain regulatory compliance. This is all done through proprietary processing of existing data and data sources.
The core Locstat team comprises Sanjay Daya, Ryno Goosen, Hallam Ford and Waldick Herbst. Their collective experience spans marketing, investor relations, business development, technology development and project management.
Apart from the technological advantage, Locstat has a significantly balanced team (technology and business development) with the appropriate corporate governance structures in place. This is a significant milestone for an early-stage technology business. The Locstat team is experienced, structured and focused.
The closing of this funding round enables Locstat to focus on hyper-growth and on launching additional revenue streams.
Of the closing of the investment round, Sanjay Daya; Locstat’s co-founder says
“We are excited to bring Savant on board in this funding round as part of accelerating our growth plans. This investment validates our position as the worldwide leader in graph intelligence platforms that provide advanced analytics. It will also enable us to grow our team, continue to invest in technology and to service our clients across Africa.”
Savant’s investment in Locstat
Savant is typically known as a hardware technology investor, focusing on science and engineering technologies. As a result, the team is always faced with highly complex investment opportunities and this means that Savant usually ends up exploring partnerships with early-stage technology companies that most other early-stage venture capitalists grapple to understand. With the expansion of the team to include solutions architects and trained software developers, Savant’s investment palate now extends to complex, deep tech software companies as well.
Thaheer Mullins, partner at Savant states;
“We were compelled to join Locstat on their growth journey. The company has demonstrated a clear product-market fit and its technology has been stress-tested thoroughly through both high-growth and enterprise level customers. We’re confident that they are leaps ahead of the competition.”
Apart from the capital contribution, Savant aims to support Locstat primarily with access to markets and to assist in positioning the company for its next round of funding.
