{"id":23054,"date":"2023-11-04T13:43:33","date_gmt":"2023-11-04T20:43:33","guid":{"rendered":"https:\/\/essential.construction\/news\/safeguard-an-ai-powered-safety-solution-for-construction-raises-8-million\/"},"modified":"2023-11-04T13:43:35","modified_gmt":"2023-11-04T20:43:35","slug":"safeguard-an-ai-powered-safety-solution-for-construction-raises-8-million","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/safeguard-an-ai-powered-safety-solution-for-construction-raises-8-million\/","title":{"rendered":"SafeGuard, an\u00a0AI-Powered\u00a0Safety Solution\u00a0for\u00a0Construction,\u00a0Raises $8 Million"},"content":{"rendered":"

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SafeGuard\u2019stechnology identifies hazardous patterns, generates risk predictions, and enforces preemptive measures in real time and cross-industry.<\/strong><\/p>\n

SafeGuard<\/a>\u00a0is an\u00a0international Safety-Tech company\u00a0that\u00a0uses machine learning to predict and prevent accidents on construction sites.\u00a0Today, the startup\u00a0announced an $8 million Series A funding round.<\/p>\n

Hi-tech investors Ron Zuckerman and Hillel Kobrinsk\u00a0lead the round. Also participating are\u00a0Ronen Peled, Yehuda Rachamim, Zemach Hammerman,\u00a0and Wall Street investor Jeffrey Schoenfeld.<\/p>\n

SafeGuard is also announcing the creation of Otoos, a daughter company that will focus exclusively on the construction industry in the US.\u00a0In addition,\u00a0SafeGuard will\u00a0expand\u00a0the use of its end-to-end decision-making solution\u00a0to other industries\u00a0needing better safety technology.<\/p>\n

Safety needs to improve<\/h2>\n

Jobsite injuries and deaths plague the construction industry.\u00a0In the US alone<\/a>, three workers die every day, and a worker gets injured every three minutes. Because 90% of all construction accidents are due to human error, fatal and non-fatal injuries continue to rise despite equipment, safety apps, and training advances.<\/p>\n

Other jobs also carry disproportionate risk. Warehousing, for example, accounts for almost\u00a08% of the 2.8 million<\/a>\u00a0non-fatal workplace injuries and illnesses reported by private industry employers.<\/p>\n

\u201cUnfortunately, our field is focused on digitizing compliance rather than innovating decision-support tools, but the reality is that compliance does not assure safety,\u201d said\u00a0Izhak Paz<\/strong>, CEO and founder of SafeGuard.<\/p>\n

Automated decision-making<\/h2>\n

SafeGuard\u2019s technology prevents accidents in real-time with its automated decision-making platform. SafeGuard is the only platform that collects data simultaneously from multiple sources:\u00a0cameras, sensors, drones, statistic analysis, open data,\u00a0and big data.<\/p>\n

The algorithms identify on-site human error patterns and use AI to predict the probability of an accident occurring. The\u00a0system then converts\u00a0predictive data into proactive measures that enforce good decision-making beforehand.\u00a0<\/p>\n

For example, SafeGuard machine learning capabilities can identify and stop a construction worker on the verge of making a mistake in real time. They\u00a0prevent an accident by locking the worker out of the hazardous area. The same technology\u00a0works\u00a0in other industries as it aims to solve accidents at the root.<\/p>\n

By implementing SafeGuard\u2019s solution, a leading international construction firm lowered the number of fatal accidents from\u00a0ten in\u00a02016-2019 to just one over the last three years.<\/p>\n

\u201cSafeGuard\u2019s automated decision-support platform gives project managers peace of mind by providing them with a powerful tool to protect on-site workers from human errors, thereby preventing accidents in real-time,\u201d lead investor\u00a0Hillel Kobrinsky<\/strong>\u00a0concluded.<\/p>\n

Source:\u00a0<\/em>SafeGuard<\/em><\/a>, Tel Aviv, Israel,\u00a0April 17, 2023<\/em><\/p>\n

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