London-registered Soter Analytics has raised $12 million in a Series A funding round. The company uses a combination of wearable technology and AI-powered coaching programs to help workers avoid musculoskeletal problems, e.g. injuries to muscles, bones, tendons, and nerves.
The funding will be used to press forward with international expansion plans. To date, the firm has raised $13.8 million.
By tracking major back and shoulder movements, Soter uses AI-driven computer vision technologies and wearables to help employers keep staff on the up and up by identifying and helping prevent manual handling injuries across a wide range of industries including warehousing, manufacturing, and construction.
The firm counts Travis Perkins, Wincanton, and Merck Animal Health in the UK; Giant Eagle Supermarkets, Coca-Cola, and Gap in the US; and Woolworths and Roy Hill in Australia.
Soter Analytics’ $12 million Series A round was led by a round led by AV8 Ventures, with OTB Ventures, btov Industrial Technologies Fund, and Verve Ventures participating. Soter Analytics has previously been backed by Startup Wise Guys.
Read more on Tech Gist Africa:
SEON nabs $94 million to power online fraud prevention
Allseated raises $15M in a new funding round led by Trinity Capital