In the midst of a technological revolution, Artificial Intelligence (AI) stands out as a transformative force, reshaping industries and economies. Africa, with its unique challenges and vast potential, is no exception.
As AI continues to redefine the continent’s future, Google has taken a proactive step to nurture and accelerate startups that are harnessing AI’s potential to address Africa-specific challenges and offer global solutions.
Background
Google, recognizing the potential of AI in Africa, launched the ‘Google for Startups Accelerator: AI First’ program earlier in August. The objective was clear: to identify and support startups that are leveraging AI to address challenges unique to Africa, while also offering solutions that have global relevance.
The significance of AI in Africa’s growth story cannot be overstated. A report by the McKinsey Global Institute suggests that by 2030, AI could potentially boost Africa’s GDP by an impressive $1.3 trillion.
Such growth is not just about numbers; it’s about creating solutions that can drive economic prosperity and improve the quality of life for millions. Google’s initiative aims to tap into this potential by supporting startups that are at the forefront of AI-driven innovations.
The selected startups range from health-tech solutions in South Africa to AI-driven website building tools in Nigeria. Among these selected startups, Uganda’s Logistify AI stands out with its innovative approach to minimizing inventory losses in industrial facilities using AI.
What Logistify AI does
Noel Etyang, the Chief Marketing Officer at Logistify AI, provided insights into the company’s journey and vision. Logistify AI, born out of a challenge faced in their previous business model, has pivoted to address a significant problem in the warehousing sector.
Factories and warehouses, which traditionally rely on a large labor force for inventory verification, often face issues related to accuracy and efficiency. Logistify AI’s solution is both innovative and practical. By leveraging existing CCTV cameras at loading docks and weigh bridges, they employ AI-based computer vision models to automatically detect, verify, and count inventory.
Watch the product Demo Video: here
This solution not only streamlines the inventory verification process but also offers a cost-effective alternative to other methods. While local companies often rely on manual labor, which can be error-prone and expensive, in the US, there are barcode scanning companies, RFID solutions, and tech giants like Amazon exploring new inventory verification methods.
What sets Logistify AI apart is its ability to use existing CCTV hardware, eliminating the need for customers to invest in sophisticated and costly equipment.
The company’s vision goes beyond just inventory verification. With their API for visual inspection being adopted by other software/IT companies, and with active pilots and collaborations with some of Kenya’s largest manufacturers, Logistify AI is poised to become a global platform in a market valued at 16 trillion dollars.
Their partnership with Google is a significant milestone. The support from Google, especially the $350k in cloud credits, will be instrumental as Logistify AI seeks to raise her seed round..
With aspirations of achieving $100,000 in Monthly Recurring Revenue (MRR) by the end of next year across multiple African countries, and plans to introduce inventory financing into their product, the future looks promising for Logistify AI.
Other selected startups
The selected startups (in alphabetical order) are:
- Avalon Health (South Africa): Empowers patients with streamlined online healthcare access and offers doctors digital tools to enhance care.
- Chatbots Africa (Ghana): Spearheading SMEs’ transition into the Social Commerce era with AI-driven online storefronts.
- Dial Afrika Inc (Kenya): Tailoring customer support tools for global businesses, with a focus on African SMBs.
- Famasi Africa (Nigeria): Innovating the OS for pharmacies in emerging markets.
- Fastagger Inc (Kenya): Using AI to amplify sales and loyalty, supporting MSMEs’ growth.
- Garri Logistics (Ethiopia): Digitalizing freight brokerage and transport services.
- Izifin (Nigeria): Providing an end-to-end credit infrastructure via API for small businesses.
- Lengo AI (Senegal): Launching the first Data-Driven OS for the Informal Sector.
- Telliscope (Ethiopia): Offering an AI-enabled business intelligence platform.
- Vzy (Nigeria): Revolutionising website building with AI-driven tools that craft sites in mere minutes.
