Viact, a Hong Kong-based startup harnessing AI to improve workplace safety, has raised $7.3 million in Series A funding. Investors, including Singtel Innov8, are betting on the future of industrial safety.
Viact’s innovative approach aims to tackle workplace hazards head-on. By using artificial intelligence, the startup monitors and analyzes safety protocols in real-time, ensuring that companies comply with regulations and prevent accidents before they happen. In a recent announcement, the company shared its excitement about closing a successful Series A funding round, securing a total of $7.3 million.
The funding round, which was led by Singtel Innov8, also saw participation from other prominent investors like Venturewave Capital. This financial boost is expected to help Viact scale its technology and expand its reach across industries that demand rigorous safety standards, including construction, manufacturing, and heavy industry.
The Tech Behind Viact’s AI-Powered Safety Software
What sets Viact apart from traditional safety systems is its use of AI to continuously monitor industrial environments. The software integrates with existing workplace infrastructure, such as cameras, sensors, and even wearable devices, to track safety behaviors and detect potential risks. Viact’s platform doesn’t just flag problems after they occur but predicts them before they lead to accidents, offering a proactive approach to safety.
“We’re not just providing a system that reports incidents; we aim to change the way companies approach safety by providing actionable insights and real-time data that can prevent accidents from happening,” explained Gary Ng, Viact’s CEO and co-founder.
The company’s technology analyzes data to provide detailed reports and alerts, which can be reviewed by safety officers to take immediate action. It also learns over time, using machine learning algorithms to fine-tune its safety predictions.
Investors See Potential in a Growing Market
The workplace safety software market is expected to grow significantly as companies continue to face pressure to reduce workplace accidents and comply with increasing regulations. With industries like construction and manufacturing being prone to high-risk environments, Viact’s AI-powered solution has garnered attention from investors who are eager to back the next big advancement in workplace safety.
Singtel Innov8, the corporate venture arm of Singapore Telecommunications, has a strong track record of investing in promising technology startups. According to Singtel Innov8’s managing director, Viact’s potential to scale quickly across Southeast Asia and beyond makes it an attractive investment.
“We believe Viact’s AI-driven platform can make a meaningful impact on improving safety outcomes across industries, and we’re excited to be part of their growth journey,” said Singtel Innov8’s director.
Venturewave Capital, another investor, shares a similar sentiment. The firm’s managing partner believes Viact’s technology not only addresses a critical need but also has the potential to revolutionize workplace safety on a global scale.
Scaling the Technology to Meet Demand
Viact’s growth is just beginning. With the new funding, the company plans to expand its operations and further develop its AI-powered software. The funds will go toward enhancing its machine learning algorithms and building a more scalable infrastructure to handle large amounts of data generated across different industrial environments.
“We are excited to take Viact to the next level, focusing on improving our platform’s accuracy and expanding our team,” said Hugo Chuek, Viact’s COO and co-founder. The company also aims to strengthen its marketing and sales efforts to attract more clients in high-risk industries.
This funding will also enable Viact to explore international markets, expanding its footprint beyond Hong Kong and Singapore into other countries with large industrial sectors. The company is already in talks with potential clients in the Middle East and Europe, looking to introduce its AI-powered solution to industries that are keen on reducing workplace accidents.
A Growing Trend in AI-Driven Industrial Safety
Viact’s success is part of a larger trend in industrial automation, where AI is becoming a key tool in improving workplace safety. In recent years, several startups have emerged in this space, leveraging AI, machine learning, and IoT technologies to reduce risks in high-risk workplaces.
In many cases, these AI systems are replacing traditional methods that rely heavily on manual observation and reports. AI can process vast amounts of data in real-time, providing more accurate insights and faster responses, something human supervisors may struggle to achieve.
Viact’s growth aligns with a global push toward safer working environments. In 2023, the International Labour Organization (ILO) reported that more than 2.7 million workers worldwide lose their lives due to workplace accidents each year. Innovations like Viact’s software could play a critical role in reducing this number.
Viact’s successful Series A funding round positions the startup to accelerate its growth and make a substantial impact on workplace safety across multiple industries. As AI continues to evolve, Viact’s real-time monitoring and predictive safety capabilities could become standard practice for companies committed to preventing workplace accidents.
