Hong Kong-based company has built an AI monitoring platform to detect risks, ensure compliance and improve efficiency across construction projects, as well as other industries
[SINGAPORE] Construction safety artificial intelligence (AI) startup viAct has raised US$7.3 million in Series A funding.
The Hong Kong-based startup’s funding round was led by private equity firm Venturewave Capital, with participation from Singtel’s corporate venture capital fund, Singtel Innov8, Korea Investment Partners and PolyU Entrepreneurship Investment Fund.
Wan Kum Tho, managing director of Singtel Innov8, said: “By integrating AI with 5G connectivity, viAct enhances operational efficiency, ensures timely and proactive hazard detection, and helps create safer, more responsive work environments.”
The startup has built an AI monitoring platform to detect risks, ensure compliance and improve efficiency across construction projects, as well as other industries.
The funding will be used to develop more sophisticated models for hazard prediction, environmental compliance and workforce safety. It will also be used to strengthen viAct’s presence in the Middle East, where demand for AI-driven safety solutions is growing.
Funds will be used to expand the startup’s team as well, with a focus on building its capabilities in AI, engineering and sustainability.
Hugo Cheuk, co-founder and chief operating officer of viAct, said: “This investment allows us to enhance our technology and further our mission of creating a safer, more sustainable work environment.”
Copyright SPH Media. All rights reserved.