In a bid to improve workplace safety and prevent injuries, Voxel, an AI startup utilizing computer vision technology, has announced a $12 million strategic funding round. Led by global manufacturing industry leader Rite-Hite, the funding round also saw participation from existing investors Eclipse Ventures and World Innovation Lab, bringing the total funds raised by Voxel to $30 million since 2020.
Each year, more than 340 million workers worldwide experience workplace injuries, ranging from slips and falls to strains and sprains, as well as vehicle collisions and crashes. With the manufacturing, logistics, and physical operations sectors being critical to the US economy, the challenge of workplace injuries and operational inefficiencies is a pressing concern. However, artificial intelligence is now revolutionizing the environment, health, and safety (EHS) field in industrial operations.
Voxel tackles this challenge by integrating state-of-the-art computer vision technology into existing security cameras. By doing so, the startup can identify potential hazards, risky behaviors, and operational inefficiencies in a wide range of workplaces. Once a potential risk is identified, such as a near-miss vehicle collision, blocked exit, improper ergonomics, or spills, an immediate real-time alert is sent to on-site personnel who can take prompt action. Additionally, Voxel’s analytics provide valuable insights to help sites identify operational inefficiencies and develop policies to prevent future issues. Not only do these proactive measures significantly reduce workers’ compensation and general liability costs, but they also improve overall business operations.
It’s worth noting that workers’ privacy is of utmost importance to Voxel. In order to protect their privacy, the company strictly adheres to an AI ethics policy that prohibits any facial recognition or identification of individuals within their systems. The company also provides resources to their customers, ensuring the ethical and responsible implementation of AI in the workplace. This commitment is the result of years of experience developing AI for industrial leaders in America.
Voxel’s impact on workplace safety has been transformative for its strategic partners. Many Fortune 500 companies, including Michael’s, Dollar Tree, Clorox, PPG Industries, and Office Depot, have already begun reaping the benefits of Voxel’s platform. These companies have reported an impressive up to 80% reduction in workplace injuries and a substantial improvement in operational efficiency.
According to Alex Senemar, the CEO and co-founder of Voxel, AI technology is saving lives. The company has demonstrated that its technology has made significant strides in reducing injuries and saving lives. Senemar believes that the future of work is not just about increasing productivity, but also about creating safer environments that meet the required safety standards.
Since its series A funding round in April 2022, Voxel has experienced remarkable growth. The startup’s team has expanded from 10 people to over 50 highly skilled employees, including professionals from renowned industry firms such as Samsara, Verkada, Google, Apple, and Uber. Moreover, Voxel has been recognized by Fast Company magazine as one of the Most Innovative Companies, and its platform has been honored as the Best B2B Tech Tool of 2023 by Products That Count.
Voxel’s leadership team is comprised of CEO Alex Senemar, who co-founded Sherbit, an AI-powered remote health monitoring system for hospitals (which was acquired in 2018), as well as CTO Anurag Kanungo, who previously led the Machine Learning Systems Team at Uber’s Self-Driving Unit. The team also includes Harishma Dayanidhi, who has expertise in self-driving car technology from her time at Uber and Aurora, and Troy Carlson, a former software engineer at Google.
Voxel’s software is making significant transformations in various industries, including warehousing, manufacturing, retail, transportation, construction, and oil & gas. A demo of Voxel’s platform is available upon request for those interested in exploring its potential. For more information about Voxel, visit their website at www.voxelai.com or follow them on LinkedIn and Twitter.
Rite-Hite, one of the leading manufacturers in the world, specializes in loading dock equipment, industrial doors, safety barriers, HVLS fans, industrial curtain walls, and more. With a focus on improving safety, security, productivity, energy savings, and environmental control, Rite-Hite has joined forces with Voxel to enhance workplace safety.
Eclipse Ventures, the venture capital organization behind Voxel, manages over $2 billion in assets and has a portfolio of 70 companies. The team at Eclipse Ventures has a deep understanding and expertise in technology, manufacturing, supply chain, logistics, healthcare, and consumer products. Their partnership with entrepreneurs aims to transform essential industries and stimulate economic growth. The leadership team at Eclipse Ventures consists of individuals who have previously worked for industry giants like Flextronics, Tesla, Apple, Samsara, Intel, and GE.
With its innovative approach to workplace safety and successful funding round, Voxel is poised to make a significant impact in the industrial operations sector. By leveraging artificial intelligence and computer vision technology, Voxel aims to create safer worksites that prioritize both productivity and safety.