Buddywise, a Stockholm and Berlin-based computer vision and AI startup that identified the massive opportunity to identify and address early indicators of safety risks, secured €1.2 million in pre-seed funding.
The investment was from investors such as Aligned Ventures and Antler. Angel investors, including Hans Stråberg (Chair of Atlas Copco & SKF), Hans-Olov Blom (CEO at Ramudden), and Martin Lundquist (CEO at Arundo Analytics), also participated in the round.
The financing round will help Buddywise to accelerate its commercial expansion, product development, and recruitment of top talents in sales and engineering.
“The great thing with our solution is that customers can quickly introduce our risk monitoring with a few cameras as the only sensor, making it easy and economical in industrial environments. Giving you a 24/7 safety manager that’s providing you with automated insights and analytics and real-time alerts,” said Lamin Faye, CEO and co-founder of Buddywise. “Almost all workplace accidents could have been prevented if only someone saw, said, and did something. Our product gives customers a real chance at achieving a zero vision for accidents. We want this to become as natural as wearing a seat belt.”
Company: Buddywise AB
Funding Month: October 2022
Lead Investors: Aligned Ventures and Antler
Additional Investors: Hans Stråberg, Hans-Olov Blom, and Martin Lundquist
Company Website: https://buddywise.co/
Software Category: AI safety risk monitoring
About the Company: Founded by Lamin Faye and Yiğit Can Arin in 2020, Buddywise is a software company that understands the value of bringing technology to those who can really benefit from it. Buddywise provides a platform enabling real-time safety monitoring through computer vision and AI to monitor workplace safety proactively and mitigate risks and accidents. It uses CCTV cameras and AI analysis of the video stream to detect and report workplace risks 24/7. Its platform is simple to use, and site personnel can configure what they want to monitor and how they want to be alerted. Its vision is to improve and automate industrial safety monitoring and risk mitigation using computer vision and machine learning. Since its debut, the company has been focusing on building its AI system and has worked closely with a few selected partners.