Otoos News
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SafeGuard raises $8 million for its AI solution to automate decision-making in construction zones | CTech
Safety-tech company SafeGuard has secured an $8 million Series A funding round for its machine learning technology that identifies dangerous patterns and enforces preemptive measures for construction sites. The funding was led by investors Ron Zuckerman and Hillel Kobrinsky, with additional real estate investors participating. SafeGuard has also created a subsidiary company called Otoos, which will focus exclusively on the U.S. construction industry. The company aims to prevent accidents in real-time by deploying an automated decision-making platform that collects data from multiple sources and uses AI to produce proactive measures. SafeGuard has saved over 2,745 lives to date.
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"יש לי אח תאום שהוא רופא, כך ששנינו בעניין של חיי אדם"
Safeguard, an Israeli company that develops products for safety and quality management at construction sites, has raised nearly $2.5 million to date. The company has grown significantly during the COVID-19 pandemic, increasing its workforce from 28 to 40 and its customer base from 65 to 97. The number of construction sites where it operates has also grown from 417 in 2019 to 647 in 2020. The company is now preparing for a second, more significant, funding round and is also looking to expand internationally.
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