In April 2019, AfricInvest, along with Endeavor Catalyst, invested USD7m in InstaDeep, a global company that utilizes its AI-based platform to help businesses analyze big data to make complex decisions. AfricInvest also participated in follow-on financing in November 2020 with existing shareholders, raising another USD7m for the company.
With AfricInvest’s support, InstaDeep was able to launch DeepPCB, a decision-making routing platform that could be scaled across customers. In addition to strategic support, AfricInvest helped InstaDeep to institutionalize its governance process and establish an environmental and social governance action plan.
By October 2021, InstaDeep had become a global player in decision-making AI enterprise software with 160 employees and offices in Tunis, London, Paris, Dubai, Lagos and Cape Town. The company’s partners include Google, Intel and NVIDIA, and it ranked as one of the top promising private AI companies in the world in 2020 and 2021.