Voxel Reaches $18M in Total Funding After Ongoing Wins

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Voxel, a startup using computer vision to transform workplace safety and operations, announced its $15M Series A funding round, led by Eclipse Ventures with participation from MTech and World Innovation Labs. This latest round of financing brings the total equity raised to $18 million.

Since increasing its seed cycle in September, Voxel has grown rapidly, reducing on-site injuries by more than 80% and increasing operational productivity by more than 20% at its initial customer sites.

Using cutting-edge computer vision technology and artificial intelligence, Voxel integrates with existing security cameras to identify hazards, risky behaviors and operational inefficiencies across a wide range of workplaces.

Once an event such as a spill, speeding or usability issue is identified, a real-time alert is sent to on-site personnel who can take immediate action.

Voxel’s analytics engine is designed to help sites identify operational inefficiencies and design policies to prevent future issues.

These proactive measures enable companies to significantly reduce workers’ compensation and general liability costs, while improving their operations.

Voxel CEO Alex Senemar says, “Site security and operations are often a reactive, manual process, where security cameras are reviewed after issues occur. Voxel is the first solution for organizations to proactively identify key behaviors that lead to costly injuries using their existing camera infrastructure. »

He says, “Over the past three months, Voxel has had a transformative impact on its customers’ operations as installs have increased 10x. It has been inspiring to see the impact of our product in the real world.

Technical Director, Anurag Kanugo, added: “Many of our customers are seeing an over 80% reduction in injuries on site, and the impact on their operations has been significant.”

These early successes have caught the attention of major insurance players who recognize Voxel’s potential to transform risk management and workplace safety, the company says.

Voxel says it aims to fundamentally change the way insurance companies underwrite risk and seek to strengthen the relationship between insurers and their customers through strong data and actionable insights. The company emphasizes its commitment to privacy and security, and its algorithms do not track any personally identifiable information.

Aidan Madigan-Curtis, Voxel Board Member and Eclipse Ventures Partner, said, “Voxel’s technology is catalyzing tangible results and lasting change in the safety and efficiency of their clients’ operations.

“The Eclipse team believes Voxel’s core architecture, which takes a non-intrusive approach by leveraging existing camera infrastructure, and their industry-leading AI applications will position Voxel to become a category leader. software and AI applications across a multi-trillion dollar set of physical industry sectors.

The Voxels team has grown rapidly, adding key personnel to its staff from established industry companies including Samsara, Verkada, Google and Apple. The team has grown from eight at the start of 2022 to nearly 30, and the Series A investment will allow Voxel to accelerate its growth even further, the company says.

The Voxel team is led by CEO Alex Senemar, who previously co-founded Sherbit, an AI-powered remote health monitoring system for hospitals (acquired in 2018) along with co-founders, CTO Anurag Kanungo, who co-founded Sherbit with Senemar, and led the machine learning systems team at Ubers’ self-driving unit; Harishma Dayanidhi, who developed self-driving car technology at Uber and Aurora; and Troy Carlson, former software engineer at Google.

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