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JOHANNESBURG - Razor Labs (TASE:RZR), a $51 million market cap AI technology company that has achieved remarkable revenue growth of 238% in the last twelve months, has formed a strategic partnership with Process Automation (Pty) Ltd to deploy its AI-powered predictive maintenance platform across African mining operations, the company announced Monday. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for expansion.
Under the agreement, Process Automation will serve as Razor Labs’ official partner and system integrator in Africa, supporting the implementation of the DataMind AI platform in mines and processing plants throughout the region.
Process Automation brings over 45 years of experience and a team of more than 240 employees across five regional offices and a central hub in Johannesburg. The company has established operations across Africa, Australasia, Europe, and South America.
"This partnership extends well beyond deploying technology, it’s about enabling the digital transformation of mining in South Africa," said Tomer Srulevich, Chief Business Officer at Razor Labs, according to the press release.
The DataMind AI platform combines data from multiple sensors including vibration, pressure, temperature, and camera systems to provide early warnings of equipment failures and performance insights.
Larry Smith, CEO of Process Automation, stated that the partnership would "add even greater value to our customers by reducing downtime, lowering maintenance costs, and driving improved productivity."
The collaboration represents a significant step in Razor Labs’ expansion strategy in Africa, as the company aims to help mining operations transition from reactive to proactive maintenance approaches.
Razor Labs, which trades on the Tel Aviv Stock Exchange, operates across Australia, South Africa, the United States, and Colombia, focusing on predictive maintenance solutions for heavy industries.
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