Voxel, a San Francisco-based artificial intelligence (AI)-powered workplace safety company, has raised $15 million in new funding.
The new funding led by Eclipse Ventures with participation from MTech and World Innovation Labs will add to the capability to handle more safety and operational hazards and help scale its growth.
Voxel uses vision technology and artificial intelligence to enable security cameras to detect possible workplace hazards, high-risk behaviours, and operational inefficiencies in real time. Once an event such as a spill, speeding vehicle, or ergonomics issue is identified, a real-time alert is sent to on-site personnel who can take immediate action.
Since raising its seed round in September, the firm has grown rapidly by reducing onsite injuries by up to 80% and boosting operational productivity by more than 20%, the company said in a statement.
“Site safety and operations are often a reactive and manual process, where security cameras are reviewed after issues occur,” said Alex Senemar, the CEO of Voxel.
“Many of our customers are seeing upwards of an 80% reduction in onsite injuries, and the impact on their operations has been significant,” said the CTO of the company Anurag Kanugo.
“We are at an inflexion point in terms of rebuilding US manufacturing, logistics, and physical operations, which represent over 40% of the US GDP. Voxel’s technology catalyzes tangible results and lasting change in the safety and efficiency of their customer’s operations,” said Aidan Madigan-Curtis, Partner at Eclipse Ventures and Voxel board member.
Voxel team has grown from eight at the beginning of 2022 to close to 30, and the Series A investment will allow Voxel to accelerate its growth even further, according to the company.
Eclipse is one of the US’ leading venture capital organisations with over $2 billion in assets under management and 70 portfolio companies.