Voxel Secures $44M to Enhance AI Workplace Safety Platform

Voxel has raised $44 million in Series B funding to advance its AI-powered workplace safety platform, announced in a press release. The funding round was led by NewRoad Capital Partners, with participation from existing investors including Eclipse, Rite Hite, Tokio Marine, and MTech, as well as HG Ventures and Whitestone.

Voxel plans to use the new capital to accelerate research and development, enhance its real-time computer vision models, and expand data insights. The company aims to integrate its AI solutions with existing security cameras to identify potential hazards and unsafe behaviors in real-time, allowing for proactive prevention of workplace accidents.

The company has reported significant growth, with a 147% year-over-year revenue increase and a 202% net revenue retention rate. Voxel's platform is already deployed by major companies such as Dick's Sporting Goods, Americold, AGI, Port of Virginia, and Berry Global, and has shown a 91% reduction in recordable injuries at some sites.

Voxel's AI platform is designed to transform workplace safety from a reactive to a proactive approach, providing real-time insights that help organizations prevent accidents before they occur. The company continues to expand its reach across various sectors, including logistics, retail, warehousing, and manufacturing.