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Intenseye Secures Record-breaking $64M Series B to Advance Its Mission of Transforming Workplace Safety With AI

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Intenseye, Lightspeed Venture Partners

Intenseye, the leader in AI-powered workplace safety solutions, secured $64 million in series B funding led by new investor Lightspeed Venture Partners with participation from existing investors Insight Partners, Point Nine, and Air Street Capital. This latest infusion of capital is the industry’s largest ever and follows a historic year for Intenseye, marked by the proactive detection of tens of millions of workplace hazards and global growth and expansion across six continents.

Intenseye’s enterprise-ready computer vision AI platform delivers 24/7 visibility into unsafe acts and conditions that precede work-related injuries or illnesses — and that often go unnoticed via manual audits. Having alerted customers to more than 36 million such instances in 2023 alone, the solution is purpose-built to empower environmental health and safety (EHS) teams to drive changes that enhance efficiency, streamline compliance, and ultimately help prevent workplace incidents without compromising worker privacy.

Read more at Business Wire

🇩🇪 RobCo raises €39.1M from Lightspeed, Sequoia, others

📅 Date:

🔖 Topics: Funding Event, XaaS

🏢 Organizations: RobCo, Lightspeed Venture Partners, Sequoia Capital, Technical University of Munich

RobCo, a provider of affordable and connected robotics automation solutions for small and medium-sized enterprises (SMEs), has secured $42.5M (approximately €39.17M) in a Series B round of funding. The investment came from global VC firm Lightspeed Venture Partners along with existing investor Sequoia Capital. Kindred Capital and Promus Ventures also participated in this round.

RobCo facilitates SMEs’ entry into automation and addresses challenges such as skilled labour shortages, production scalability, and the transition to Industry 4.0. The company’s platform allows remote configuration, implementation, and management of robots via a digital twin, using a low-code approach that eliminates the need for complex programming or specialised personnel. In addition, RobCo combines its proprietary patented platform approach with a novel business model – Robot-as-a-Service (in short: RaaS).

RaaS allows small and midsize manufacturers to pay for robotic services on a monthly basis instead of buying hardware. Manufacturers see an immediate return of automation, while avoiding large upfront investments, and they’re able to transform robotics budgets from CapEx to OpEx.

Read more at Silicon Canals

Smartex sews up $24.7M to put smarter eyes on textile manufacturing

📅 Date:

✍️ Authors: Haje Jan Kamps,

🔖 Topics: Funding Event

🏢 Organizations: Smartex, Lightspeed Venture Partners, Build Collective

Smartex has developed machine-vision-driven software that makes fabric production more efficient by identifying defects, which primarily can be used to stop manufacturing if something is going wrong, preventing waste. In particular, the company argues that imperfect fabric can travel down the supply chain, with product issues only getting discovered much later in the manufacturing process.

These Series A funds will enable Smartex to expand the business to new geographies and to continue to grow the team. “I’m so excited about textile production in Asia and all the mega-factories in Bangladesh, Vietnam, China, etc. No one will ever solve textile problems without having a deep understanding and presence in these markets. So, going into all the cultural aspects and making businesses here is really awesome,” said Loureiro. “Our ultimate vision and long-term goal is to expand into other industries to enable factories around the world to produce with significantly less waste. We won’t stop until we have made a massive difference.”

Read more at TechCrunch