Viact Raises $7.3 Million Series A Funding

Viact, a trailblazing startup from Hong Kong dedicated to enhancing workplace safety through artificial intelligence, has successfully raised $7.3 million in a recent Series A funding round. This investment was led by Irish firm Venturewave Capital and included participation from prominent investors like Singtel Innov8, the venture arm of Singapore Telecommunications.

Plans for Expansion and Innovation

The funds will be channeled into refining Viact's cutting-edge AI video analytics software. Co-founder and CEO Gary Ng revealed that the startup plans to bolster its presence not only in Singapore and the Middle East but also venture into new territories across Europe and the U.S.

From Seed to Growth

Having previously secured $2 million in seed funding back in 2021, Viact has garnered attention for its innovative approach to construction safety, even appearing on Forbes Asia's 100 to Watch list in 2022.

Transforming Construction Safety

Founded in 2016 by Ng and Hugo Cheuk, Viact emerged from a realization of the potential for digitizing the labor-heavy construction sector, particularly in safety inspections. The duo developed a powerful computer vision software capable of detecting critical safety violations such as lack of protective gear and hazardous site access.

Smart Solutions for Real-World Problems

Launched in 2019, Viact's technology integrates seamlessly with existing security systems at construction sites. Upon detecting potential hazards, it activates alarms on-site and sends mobile alerts to off-site managers, ensuring prompt reactions to safety threats.

Broadening Its Horizons

Viact's reach extends beyond construction, now serving industries like oil and gas, mining, and manufacturing. The software has evolved to detect gas leaks, product defects, and hazardous worker postures. Additional features also help enhance operational efficiency, such as fleet route optimization and pollution monitoring.

Widespread Implementation

With over 300 worksites utilizing its software, Viact's clientele spans major government departments and property developers in Hong Kong, including Henderson Land Development. In Singapore, it partners with housing and transport projects, while in Saudi Arabia, it collaborates with giants like Aramco and the ambitious Neom city project.

Future Innovations and Partnerships

While financial specifics remain undisclosed, Ng asserts that Viact has maintained profitability since its inception in 2019. The startup is currently working with an undisclosed data center operator to implement its safety solutions and is exploring advanced integrations with drones and robots, enabling automated inspections and worksite monitoring.

A Rising Star in Urban Tech

Viact is among the select few Hong Kong startups leveraging the potential of one of the most urbanized markets worldwide, joining ranks with others like Ampd Energy, renowned for its innovative electric solutions for construction power needs.