{"id":53508,"date":"2023-09-01T20:11:00","date_gmt":"2023-09-01T20:11:00","guid":{"rendered":"https:\/\/www.darkreading.com\/operations\/ai-for-good-voxel-ai-tech-increases-funding-to-30m-with-strategic-funding-round"},"modified":"2023-09-01T20:11:00","modified_gmt":"2023-09-01T20:11:00","slug":"ai-for-good-voxel-ai-tech-increases-funding-to-30m-with-strategic-funding-round","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/ai-for-good-voxel-ai-tech-increases-funding-to-30m-with-strategic-funding-round\/","title":{"rendered":"AI for Good: Voxel AI Tech Increases Funding to $30M With Strategic Funding Round"},"content":{"rendered":"
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San Francisco, California – August 30, 2023<\/strong>; Every year over 340m workers suffer a workplace injury: slips and falls, strains and sprains, vehicle collisions and crashes. Voxel, an AI startup using computer vision to transform safety and operations in the workplace<\/a>, is today announcing a $12m strategic funding round to improve workplace safety and save lives. The strategic funding round was led by global manufacturing industry leader Rite-Hite with participation from existing investors Eclipse Ventures and World Innovation Lab. This takes total funds raised to $30m since 2020.<\/p>\n

In the US, manufacturing, logistics, and physical operations are the lifeblood of the economy, with over 25 million individuals at the frontlines, contributing to 40% of the nation\u2019s GDP. However, with massive output comes the persistent challenge of workplace injuries and operational inefficiencies. Now, artificial intelligence is revolutionizing the field of environment, health and safety (EHS) in industrial operations. <\/p>\n

Voxel integrates state-of-the-art computer vision technology into existing security cameras to identify hazards, risky behaviors, and operational inefficiencies across a diverse range of workplaces. Once potential risks, such as near-miss vehicle collisions, blocked exits, improper ergonomics,or spills, are identified, a real-time alert is sent to on-site personnel who can take immediate action, and Voxel’s analytics help sites identify operational inefficiencies and design policies to prevent future issues. These proactive measures allow businesses to significantly reduce worker\u2019s compensation and general liability costs, while improving their operations.<\/p>\n

In order to protect workers\u2019 privacy, Voxel\u2019s AI ethics policy means that no facial recognition or identification of individuals is permitted in their systems. Voxel provides its customers with resources for ethically and responsibly implementing AI in the workplace crafted after years of experience developing AI for America\u2019s industrial leaders. <\/p>\n

Voxel has had a transformative impact for their strategic partners\u2019 operations, reporting up to an 80% reduction in workplace injuries and substantially improving operational efficiency. Fortune 500 firms like Michael\u2019s, Dollar Tree, Clorox, PPG Industries, Office Depot, and many others are already seeing the benefits of Voxel\u2019s platform.<\/p>\n

Alex Senemar, CEO and co-founder of Voxel<\/strong> <\/strong>commented: \u201cAI is saving lives. We\u2019ve proven that our technology has made great strides toward reducing injuries and saving lives. Our approach is going to create worksites where employers don’t have to bargain between meeting safety standards and meeting their productivity goals. The future of work is not just about doing more, but doing it safer in an environment fit for purpose\u201d. <\/p>\n

Voxel business highlights<\/strong> <\/strong>(since series A funding round, April 2022)<\/p>\n