SafeGuard, a Safety-Tech company that specializes in predicting and preventing accidents in the construction industry through machine learning, has announced an $8 million Series A funding round. The investment round was led by hi-tech investors, with real estate investors and Wall Street investor Jeffrey Schoenfeld also participating. The US Bureau of Labor Statistics reports that three workers die every day while on the job, and a worker is injured every three minutes. SafeGuard uses an end-to-end decision-making solution that collects data from various sources, such as cameras, sensors, drones, statistical analysis, open data and big data to automate on-site decision-making. The platform’s algorithms identify on-site human error patterns and use AI to predict the probability of an accident occurring, giving real-time warnings to endangered employees in order to reduce fatalities within the physical labor industry.
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