Supported by AV8 Ventures, OTB Ventures, btov Industrial Technologies Fund, Verve Ventures and the Startup Wise Guys, proceeds will be used to fund research and development of wearable and AI-drive solutions to prevent musculoskeletal injuries
Costing worldwide organisations up to US$140bn annually, Soter Analytics, a global ergonomic technology firm, is driving expansion plans and further develop its smart technology solutions to protect workers.
Work-related musculoskeletal disorders (MSD) involve injuries to muscles, bones, tendons, and nerves.
Soter's AI-driven processing technology and wearables are applicable across a range of industries, with a focus on warehousing, manufacturing, and construction.
The technology allows workers to follow and track progress, complete manual handling training, and provides personal tutorials to shift safety cultures.
Tracking all significant back and shoulder movements, its wearable technology and analytics dashboard has driven a 55% reduction in manual handling injuries.
Matthew Hart, Founder and CEO at Soter Analytics, commented, “Today marks an important milestone for Soter Analytics and our mission to empower organisations to make their workplace safer. Our bespoke technology provides an end-to-end safety solution through AI and machine learning, and this fundraise shows that our investors and partners have recognised the strength of our product.
"This fresh capital will allow us to invest in research and development and work alongside organisations to help them improve workplace safety, decrease employee turnover, and enable injured workers return to work faster."