Ailytics, a Singaporean startup specializing in AI-powered video analytics for heavy industries, has secured a $2.7 million Pre-A funding round led by Tin Men Capital, with participation from Aurum Investments, AngelCentral, and others.
Ailytics, founded in 2021 by CEO Wei Zhuang (Lenard) Tan and CTO Prateek Manocha, leverages scenario-based AI technology to enhance operational safety and productivity across heavy industries.
Their innovative solution utilizes existing camera systems to provide real-time insights into unsafe practices, productivity metrics, and security violations, offering a unique ability to generate 3D dimensions from 2D video feeds.
This technology allows for the application of complex scenarios, such as assessing danger zones around heavy machinery and equipment, using low-resolution cameras.
Despite challenging conditions, Ailytics delivers high accuracy, proving invaluable for construction sites, manufacturing plants, and other dynamic environments within the heavy industry sector.
To date, Ailytics has seen its solutions deployed in over 70 projects, integrating more than 1000 cameras across four countries and various industrial sectors.
The impact is notable—reducing manual inspections by up to 50%, increasing hazard detection sevenfold, and boosting operational productivity by 25%.
Ailytics clients, including notable entities like Jurong Town Council, Woh Hup, and ST Engineering, have reported substantial returns on investment, attributing success to reduced downtime, fewer audits, stop-work orders, and fines.
"With the backing of Tin Men Capital and our strategic partners, we're set to broaden our reach to markets across Asia, including Hong Kong, the Middle East, Japan, and Oceania," stated Lenard, CEO of Ailytics.
"Our goal is to pioneer the next wave of video analytics solutions, utilizing Large Vision Models (LVM) for complex, domain-specific tasks. By focusing on worker safety, we're not just enhancing operational efficiency but are committed to preventing workplace accidents and minimizing risks."
Conclusion
Ailytics' recent funding makes an exciting turn for the company to revolutionize how heavy industries approach safety and efficiency with the power of AI. The commitment to expanding their reach and deepening their technological capabilities is clear.
They are charting a course towards reshaping industry standards, with a keen focus on protecting workers and enhancing operational workflows through smart, AI-driven insights.
