MTech Capital recently led a $3 million seed round investment in Voxel, with participation from Rite Hite and other leading angel investors.
Voxel uses state-of-the-art computer vision technology and AI to analyze video feeds from existing security cameras. The Company is able to identify hazards and risky behaviors across a diverse array of workplace environments. Once flagged, a real-time notification is provided to on-site personnel who can take action and review detailed analytics to prevent future injuries. The increased site visibility helps to reduce worker's compensation, general liability, and property damage costs, leading to lower insurance premiums.
Voxel’s proprietary algorithms have been trained on thousands of hours of video to recognize risky activities such as missing personal safety equipment, reckless forklift driving, poor posture and ergonomic movements, and spills. The company emphasizes that privacy is a core pillar of its platform, promising that its algorithms do not track any personally identifiable information. Voxel is currently live at multiple Fortune 1000 customers sites across the U.S., with customers already reporting a substantial drop in injuries.
Voxel’s team is led by CEO Alex Senemar, who previously co-founded Sherbit, an advanced remote health monitoring system for hospitals that was acquired in 2018. The co-founding team consists of CTO Anurag Kanungo, who co-founded Sherbit with Senemar, and worked at Uber’s Self Driving Unit, Harishma Dayanidhi, who developed self-driving car technology at Uber and Aurora; and Troy Carlson, a former Google software engineer.
"We believe Voxel’s technology is a gamechanger in the category of workplace safety, both in monitoring and risk prevention,” said Brian McLoughlin, co-founder and partner at MTech Capital. “We have seen countless workplace safety solutions using wearables and other IoT sensors, but Voxel is the first solution that can drive down insurance costs and improve safety using a company’s existing security camera infrastructure. The customer can see a 360-degree view of the worksite with the ability to spot dangerous conditions and intervene in real time.”