Stockholm-based Buddywise platform is spearheading a revolution in workplace safety with AI across Europe. They have recently secured a new €3.5 million seed round, co-led by Helsinki’s Kvanted and J12, alongside existing investors Aligned and Antler. Notable angel investors such as Hans Stråberg, Hans-Olov Blom, and Eric Quidenus-Wahlforss have also joined in. This significant infusion of capital will fuel Buddywise’s expansion efforts. This includes hiring top talent and growing their customer base across Europe.
Buddywise Receives Funding to Enhance Workplace Safety Initiatives Across Europe
Workplace safety stands as a pressing global issue. According to the International Labor Organization, nearly three million work-related deaths occur annually. Additionally, there are 395 million serious accidents causing lifelong injuries. These incidents result in a substantial economic loss, equivalent to 6% of global GDP. In the EU alone, there were 2.9 million non-fatal accidents and over 3000 fatal accidents in 2021. Construction accounted for over a fifth of these fatal accidents.
Lamin Faye, CEO of Buddywise, emphasizes the importance of preventing workplace accidents. He stresses the need for real-time data to achieve this goal, which Buddywise provides. The new funding will bolster their efforts in guiding companies towards a zero-injury vision. They will focus on data-driven insights for learning and action.
With the fresh investment, Buddywise aims to attract top commercial and tech talent. They also plan to expand their customer base and launch commercial initiatives across Europe. Presently, their solution is operational in various industrial sites in Sweden, Finland, Latvia, and Poland. This spans sectors such as infrastructure, manufacturing, and pulp and paper.
Buddywise Receives Acclaim for Pioneering AI-Powered Workplace Safety Solutions
Emmet King, Partner at J12, praises Buddywise’s innovative approach. He highlights the significance of recent advancements in computer vision models in improving workplace safety. According to King, these advancements make technology the cornerstone in addressing safety concerns. This surpasses traditional reporting apps, inspections, and sensors. Buddywise, he notes, is at the forefront of this transformation towards a zero-injury vision.
Established in 2020, Buddywise has developed an innovative solution harnessing artificial intelligence and computer vision to identify real-time safety risks in workplaces. Industrial clients can seamlessly integrate their existing camera infrastructure with the Buddywise platform. This platform empowers safety leaders and management to swiftly act upon early risk indications and proactively mitigate hazards. The continuous data collection, operating 24/7, generates insights for ongoing learning and action. This technology holds immense potential to enhance the safety of teams on industrial sites and could revolutionize workplace safety practices across Europe and beyond.
Maria Wasastjerna, Founding Partner at Kvanted, emphasizes the significance of workplace safety in the industrial sector. She acknowledges the digital transformation gap in this area and commends Buddywise for pioneering change. Wasastjerna highlights Buddywise’s unique solution, driven by computer vision models, which identifies and reports risks, potentially preventing fatal accidents on factory floors. She expresses excitement about supporting Buddywise in their journey towards a zero-injury vision.
Oscar Westergard, Partner at Antler, praises Buddywise’s founding team, Lamin and Yigit, for their dedication to addressing workplace safety challenges. He sees their application of AI and computer vision as a practical solution already saving lives and preventing injuries. Westergard believes in Buddywise’s potential to impact thousands of lives across Europe and beyond. He expresses confidence in their future success and underscores Antler’s commitment to backing Buddywise since its inception.