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Buddywise Raises €3.5M to Transform Workplace Safety

Buddywise unveils a €3.5M seed round aimed at spearheading the fight against workplace accidents
March 26, 2024

In a landmark development, Buddywise unveils a groundbreaking €3.5 million seed round aimed at fortifying workplace safety within industrial domains across Europe. Spearheaded by specialist AI fund J12 and Kvanted, with participation from Soundcloud founder Eric Quidenus-Wahlforss, this investment heralds a new chapter in the realm of safety technology.

Hailing from Sweden, Buddywise harnesses the power of machine learning and computer vision to preempt workplace accidents, transcending conventional safety paradigms. By seamlessly integrating with existing camera infrastructure, Buddywise's platform meticulously analyzes footage, promptly flagging potential safety hazards. For instance, in the event of a gas leak endangering a worker's well-being, Buddywise swiftly triggers an alert, ensuring immediate assistance—a stark departure from scenarios of undetected emergencies.

The efficacy of Buddywise's AI vision software reverberates across infrastructure and manufacturing sites in Sweden, Finland, Latvia, and Poland, illuminating the path towards enhanced workplace safety. With fresh capital infusion, Buddywise is poised for a transformative expansion, earmarking resources for outreach, recruitment, and continental proliferation.

Despite the advent of digital transformation, the construction sector grapples with a persistently high incidence of workplace accidents. In 2021 alone, the industry witnessed 2.9 million non-fatal accidents and over 3000 fatalities, underscoring the imperative for robust safety solutions. Against this backdrop, Buddywise emerges as a beacon of innovation, aligning with the burgeoning emphasis on environmental, social, and governance (ESG) criteria, resonating with investors seeking sustainable software solutions.

Emmet King, Partner at J12, lauds the evolution of computer vision models, highlighting their pivotal role in revolutionizing workplace safety. With unparalleled advancements in image classification and object detection, coupled with GDPR-compliant practices, Buddywise epitomizes the transformative potential of technology in safeguarding human lives.

As Buddywise embarks on its mission to foster a safer work environment, the seed round underscores a resounding vote of confidence from investors and industry stakeholders alike. With a steadfast commitment to innovation and compliance, Buddywise epitomizes the convergence of cutting-edge technology and humanitarian ethos, charting a course towards a safer, more secure future for industrial workplaces across Europe.

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