Ailytics Raises $2.7M to Advance Industrial Safety and Productivity with Advanced Video Analytics

SINGAPORE, April 4, 2024 — Ailytics, a heavy industry software startup utilizing scenario-based AI-powered video analytics solutions, has successfully secured its oversubscribed Pre-A funding of US$2.7 million led by Singapore-based venture capital firm Tin Men Capital. The round was also joined by Aurum Investments, AngelCentral and other investors.

Ailytics was founded in 2021 by CEO Wei Zhuang (Lenard) Tan and CTO Prateek Manocha. The startup’s proprietary solution taps into video surveillance and CCTV systems to provide real-time actionable insights for productivity metrics and security breaches. It can provide 3D dimensions using a 2D video feed from any single camera, which enables the deployment of complex use cases such as calculating the danger zone under heavy load and a fixed radius around hazardous equipment.

The solution can be deployed with high accuracy using existing low resolution cameras, even in harsh environments, making it suitable for dynamic environments found in heavy industries such as construction sites and manufacturing plants.

Currently, Ailytics’ solutions have already been implemented in more than 70 projects, integrating with over 1000 cameras across four countries and multiple industry verticals, and have enabled customers to reduce the need for manual inspections by up to 50% while increasing hazard detection up to 7x.

Operations productivity has also increased by up to 25%, and companies obtained a return on investments within months of using the solution. Some notable clients include Jurong Town Council (JTC), Woh Hup, and ST Engineering.

“With the support of Tin Men Capital, and other strategic investors in the round, we are excited to have the opportunity to expand our services to other key markets across the region such as Hong Kong SAR, Middle East, Japan, and Oceania. We would also be able to increase our R&D efforts to build the next generation of Video Analytics solutions, powered by Large Vision Models (LVM) capable of handling complex domain-specific tasks. Our ambition is to become the leading one-stop Video Analytics solution provider for heavy industries in Asia. By prioritizing safety, we aim to mitigate worksite accidents and minimize occupational hazards while enhancing process efficiency and maximizing ROI. Above all, our mission is to safeguard the lives of workers, underlining our commitment to safety and excellence,” commented Lenard, CEO of Ailytics.

About Ailytics

Ailytics is Southeast Asia’s leading Video Analytics solution provider that helps companies enhance their operational safety and productivity. Global industrial workplaces are known to be dangerous and less productive, with construction inefficiencies and safety lapses costing a staggering $2.8 trillion across the world. Ailytics believes that workplace productivity is key whilst safety is non-negotiable and can be easily improved by adoption of the right technology. Using the latest breakthroughs in AI, Ailytics empowers workplaces to have 24/7 monitoring of their operations, receive real-time actionable insights and take actions to optimize their operational bottlenecks and ultimately creating a safer and more efficient workspace for everyone.

Source: Ailytics