South African AI startup Cerebrium raises R150 million to scale its innovative platform
'It's a remarkable milestone for South African tech, as local founders secure backing from one of the most influential AI investors in the world,' a statement from Cerebrium said Tuesday.
The company and its AI platform have pioneered technical advancements that enable teams to build and scale multimodal AI applications without the traditional complexity or cost. Founded in Cape Town and now headquartered in New York City, this new funding will allow the team at Cerebrium to invest in new features and meet surging enterprise demand.
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Daily Maverick
6 hours ago
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Two months later, Godongwana designated crypto-asset platforms as 'accountable institutions' under the Financial Intelligence Centre Act, subjecting them to anti-money laundering rules. Changing the game Then, in a landmark judgment in May 2025, Judge Mandlenkosi Motha ruled in the North Gauteng High Court that cryptocurrencies fell outside the 60-year-old exchange control framework. He called the regulations 'not fit for purpose' to deal with digital assets, adding bluntly: 'A regulatory framework addressing cryptocurrency is long overdue.' That ruling has forced the Reserve Bank into action. Godongwana has confirmed that a new crypto framework will be published later this year, setting out clear parameters for cross-border flows and the responsibilities of crypto platforms. The focus is on preventing illicit financial activity, not enabling local investment. It also followed the first of many bitcoin all-time highs. 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If Board Notice 90 is amended, the average investor could finally get exposure to the digital asset class, but with the guardrails of professional management. Until then, it's DIY. Execute Board Notice 90 Reitz's real gripe is with Board Notice 90 of 2014. The document prescribes what assets CIS funds can hold. Crypto is explicitly excluded. For Reitz, that means South African pension funds and institutional investors are locked out of the world's fastest-growing asset class. But, to be fair to the lawmakers, bitcoin was only five years old. Between 2015 and 2025, bitcoin's value surged by around 37,000%, moving from about $430.57 to $119,448.49. Reitz argues that South African savers missed the bus, not because they were cautious, but because regulators decided on their behalf. 'A measured allocation to crypto assets could give ordinary investors a stake in the future of digital finance,' he said. Luno wants the Reserve Bank to go further still, by designating digital assets as 'onshore' when held with locally licensed platforms. That would clarify whether bitcoin ETFs count toward the strict foreign asset limits that keep institutional investors cautious. Reitz says such a move could unlock billions in liquidity and generate up to R500-million in extra tax revenue. The road ahead Godongwana has never explicitly opposed changing bitcoin regulations; he is just wary of rushing it. His rhetoric has consistently centred on protecting the integrity of the financial system. 'Trust is fundamental to any financial system's effectiveness and existence,' he told MPs. 'To counteract this, we must adopt a regulatory framework that is as dynamic and proactive as the financial sector itself.' But the clock is ticking. Other jurisdictions are already treating crypto as a legitimate asset class. South Africa's investors, many of whom already hold crypto directly, are left without the safeguards and efficiencies of professional management. For now, Godongwana's caution carries the day. But with each passing year, the cost of sitting on the sidelines grows. DM
