Buddywise Secures €3.5 Million in Seed Round

by Kay Aloha Villamor in March 25th, 2024

Buddywise, a Stockholm, Sweden-based platform leveraging AI to enhance workplace safety across Europe, has secured €3.5 million seed round.  


The funding round was co-led by Kvanted and J12. Existing investors Aligned and Antler and a group of high-profile angel investors including Hans Stråberg, Hans-Olov Blom, and Eric Quidenus-Wahlforss also contributed to the funding.  

Kvanted Ventures is a venture capital firm based in Helsinki, Finland. The firm focuses on companies building new software and hardware solutions to disrupt the industrial value chain. Kvanted Ventures focuses its investments on hardware and software startups, as well as service companies that innovate within the industrial value chain, with a particular emphasis on industrial automation, sustainability, and supply chain resilience.  

Founded in 2019, J12 Ventures is a venture capital firm based in Stockholm, Sweden. The firm prefers to invest in early-stage companies in the software, data, and technology sectors in the Nordics. The firm has additional offices based in London, Helsinki, and Paris.  

Buddywise Use of Funds  

The fresh funds will be utilized to accelerate the recruitment of top commercial and tech talent. Buddywise intends to expand its customer base among international industrial enterprises and commence its commercial expansion across Europe.   

Furthermore, the company plans to invest heavily in enhancing its ability to provide data-driven insights, enabling learning and action based on real-time data to prevent workplace accidents.  

About Buddywise  

Founded in 2020 by Lamin Faye and Yigit Arin, Buddywise is a software company that specializes in leveraging artificial intelligence and computer vision to identify real-time safety risks in industrial workplaces. The company's solution allows industrial clients to integrate their existing camera infrastructure with the Buddywise platform. By continuously collecting data, the platform enables safety leaders and management to promptly address potential risks and proactively mitigate hazards, thus significantly enhancing workplace safety. Buddywise's technology has been adopted by numerous industrial sites across Sweden, Finland, Latvia, and Poland, spanning various sectors such as infrastructure, manufacturing, and pulp and paper.  

Funding Details                 

Company: Buddywise   

Raised: €3.5M              

Round: Seed Round   

Funding Month: March 2024                                       

Lead Investors: Kvanted, J12   

Additional Investors: Aligned, Antler, Hans Stråberg, Hans-Olov Blom, Eric Quidenus-Wahlforss   

Company Website: https://www.buddywise.co/   

Software Category: Safety Monitoring   

Source: https://www.eu-startups.com/2024/03/stockholm-based-buddywise-raises-e3-5-million-to-detect-workplace-safety-risks-in-real-time/   



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