Voxel uses AI and computer vision to improve workplace safety. Check out the 8-slide pitch deck it used to raise $12 million.
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- San Francisco-based Voxel has secured $12 million from industry giant Rite Hite.
- The startup integrates AI and computer vision into security cameras, to prevent workplace accidents.
- Check out the 8-slide pitch deck used to secure the capital.
A startup that uses AI and computer vision to detect and prevent workplace accidents has just secured $12 million in strategic funding from Rite Hite.
San Francisco-based Voxel, which launched in 2020, allows companies to integrate its AI tool into their security cameras. The aim is to identify any potential risks and accidents that employees may encounter, and flag it in real-time. The startup is currently working with blue-collar industries, where the likelihood of workplace injuries is much higher.
“Despite the rapid advancements in AI and computer vision, their potential remained largely untapped in ensuring workplace safety,” said Alex Senemar, cofounder and CEO of Voxel. He added that, while safety monitoring usually relied on manual supervision and in-person spot checks, these tools don’t adequately detect near-miss incidents.
Voxel’s AI tool catches risks such as blocked exits and spills on the floor, which may pose a risk to workers — and alerts workers to risks “before they emerge, allowing for timely interventions,” Senemar said.
The startup’s AI tool also integrates with existing security camera infrastructures, so companies don’t have to buy new equipment. Its client base ranges from safety managers at local sites to C-suite executives in high-risk industries; Voxel counts the likes of Dollar Tree, PPG Industries, and Office Depot among its clients.
As data privacy becomes a glaring issue amid the AI boom, Voxel has developed an AI ethics policy that bans facial recognition or identification of individuals in its system.
The startup makes its money by offering a subscription model tailored to the needs of each company that it works with. It provides tiered pricing, as well as analytics on workplace safety, so corporations can assess how to create a safer setting for workers.
The $12 million round was led by US manufacturing company Rite Hite, with participation from existing backers Eclipse Ventures and MTech Capital. This brings the startup’s total funding to $30 million.
With the cash injection, Voxel will “expand into more industries, especially those that haven’t traditionally utilized AI for safety,” Senemar told Insider. It will also eye markets outside of North America.
Check out the 8-slide pitch deck used to secure the investment: