Buddywise raises €3.5M for AI workplace safety solution

Stockholm-based startup Buddywise, specializing in transforming workplace safety across Europe through advanced AI and computer vision technology, has announced a successful €3.5M seed funding round.

Kvanted, an industrial tech fund based in Helsinki, and J12, an AI-focused fund, are leading the investment. Previous investors such as Aligned and Antler participated alongside notable angels like Hans Stråberg, Hans-Olov Blom, and Eric Quidenus-Wahlforss. Maria Wasastjerna, Founding Partner at Kvanted, emphasized the critical importance of workplace safety in the industrial sector and praised Buddywise for pioneering digital transformation efforts.

She highlighted Buddywise’s computer vision-based solution, which identifies and reports risks to prevent accidents, ushering in the industry’s new era of safety. Wasastjerna expressed enthusiasm for supporting Buddywise’s journey toward realizing a zero-injury vision.

Safer workplaces in the making

Founded in 2020 by Lamin Faye and Yigit Arin, Buddywise revolutionizes workplace safety. The platform swiftly detects and prevents risks in real-time through AI and computer vision, aiming to eliminate fatalities.

By continuously collecting data, Buddywise equips safety leaders with proactive insights to mitigate accidents and protect frontline teams in industrial settings.

Industrial clients can seamlessly integrate camera systems with the platform, enabling proactive hazard management.

Emmet King, Partner at J12, highlighted the recent advancements in computer vision models, emphasizing their significant improvements in image classification and object detection. He noted the technology’s potential to address workplace safety issues effectively, replacing traditional reporting apps, inspections, and sensors.

Impressed by Buddywise’s leading solution, King commended Lamin, Yigit, and the team’s dedication to achieving a zero-injury vision.

Using the funds

Buddywise intends to use the newly acquired funds to bolster recruitment efforts and attract top commercial and tech talent. Additionally, the company aims to expand its international customer base within the industrial sector and initiate commercial expansion throughout Europe.

Currently operational in Sweden, Finland, Latvia, and Poland, Buddywise’s solution is actively deployed across diverse industries, including infrastructure, manufacturing, and pulp and paper.

The new funding empowers us to further advance our customers’ zero-injury vision, with substantial investments geared towards leveraging our data-driven insights for enhanced learning and actionable outcomes.

Lamin Faye, Co-founder of Buddywise

Faye underscores the company’s dedication to workplace safety, emphasizing that everyone should safely return home after work. The Buddywise Operational and Safety platform provides leaders with real-time data essential for preventing accidents, challenging the existing norms and striving for improved safety standards.