Novus Holdings has invested R55 million in Bytefuse, an AI company, to enhance its enterprise-scale solutions.
Maski, an AI-powered tutoring software from Maskew Miller Learning (MML), will help students in South Africa who don’t have access to private education support. MML’s AI tutor simulates one-on-one tutoring, improving student performance by an average of two grades. This demonstrates how Bytefuse’s work with MML has a revolutionary effect on improving educational experiences and results.
“AI is at the forefront of significant change in our society, and our work with MML demonstrates its potential to create significant value in education,” said Greg Newman, CEO of Bytefuse. “This investment from Novus Holdings will enable us to scale our solutions and bring AI-driven innovation to more sectors. We believe that by leveraging our solutions, businesses can achieve unparalleled efficiency and effectiveness while delivering products and services that were not previously possible.”
Andre van der Veen, CEO of Novus Holdings, emphasized the importance of acquiring top AI talent. “There’s a lot of noise about AI on the market at the moment. Most of that noise centers on large models from companies like OpenAI, Google, and Microsoft. To build transformative solutions, you need the top AI skills in the country, and we don’t think many companies can recruit and maintain these skills at the required level.”
Since Bytefuse began its journey four years ago, it has had a head start in building strong artificial intelligence solutions due to its long-term vision and readiness. The business employs open-source AI models since they are more affordable to host and smaller in size. Bytefuse can enhance the quality of outcomes beyond standard off-the-shelf solutions, guaranteeing data confidentiality and privacy, by training these models on a business’s proprietary data.
Bytefuse strengthens its strategic position in the AI market with top AI specialists led by Prof. Etienne Barnard, who has over 35 years of experience, enabling him to understand the fundamental building blocks of AI and address issues effectively.
CEO of Alphawave, Frans Meyer, commented on the investment, “We are incredibly pleased to have incubated Bytefuse from its inception and to receive this substantial investment. At Alphawave, we take great care in selecting and nurturing top talent, incubating and developing deep technology, and looking at commercialization and timing with meticulous attention.”
Novus Holdings’ strategic investment in Bytefuse is a significant step towards delivering enterprise-scale AI integration, enabling the company to revolutionize industries with AI-driven innovation.The post Novus Holdings Invests R55 Million in AI Innovation Company first appeared on IT News Africa | Business Technology, Telecoms and Startup News.