Protex AI raises $18m to protect workers using AI

1 min read

Irish start-up safety disruptor, Protex AI, has now raised a total of $18m of investment to help launch its product in Europe and the US, led by Notion Capital with participation from Playfair Capital, Elkstone and Firstminute Capital to empower health and safety teams to protect their workforce with AI-powered technology. 

Protex AI is an Irish start-up that uses AI technology to give businesses increased visibility of unsafe behaviours in their facilities. Working with blue-chip brands such as leading UK retailer, Marks & Spencer (M&S), Protex AI's always-on solution is revolutionising how enterprise safety teams make proactive safety decisions. The privacy-preserving AI platform plugs into existing CCTV infrastructure and uses its computer vision technologies to capture unsafe events autonomously and proactively in a variety of settings such as warehouses, manufacturing facilities and ports.  

M&S Chairman Archie Norman has welcomed the advancement in safety technology to the franchise saying: "Site safety is critical to our colleagues and Protex AI's technology brings behavioural visibility to the next level. What we like about the approach is that it uses and interprets real data to enable our teams to adopt a preventative approach reducing risk of injury and keeping our people safe." 

The company has raised $18M in seed and Series-A funding. In addition to lead investment by Notion Capital, several existing and new investors have also participated in this funding round, including firstminute capital and strategic investments from Flexport which recently raised $935 million in a Series E investment round and SCOR Ventures.  

Dan Hobbs CEO of Protex AI said the strategic investment from both Flexport and SCOR Ventures is a clear indicator that there’s a need for technology-based solutions to radically improve safety standards in industry. Protex AI has a compelling proposition to address this need. With the cost of workplace accidents estimated at $171 billion in the US alone due to losses in productivity, insurance, and medical expenses; safety technology is a growing space as companies look to prevent huge losses in costs and time.  

“The investment is also a strong endorsement that the technology we’re building at Protex AI is the right solution to revolutionise the way modern safety is practised. I would like to thank our existing shareholders for their support and welcome new investors to our business.”  

Ryan Peterson CEO of Flexport commented “we're delighted to back Protex AI and their mission to make every industrial workplace safer. Their unique use of computer vision within existing CCTV systems will save lives.”