Ailytics Secures $2.7M Pre-Series A Funding Led by Tin Men Capital

Singapore-based Ailytics has successfully raised US$2.7 million in an oversubscribed pre-Series A funding round led by venture capital firm Tin Men Capital. Ailytics utilizes AI-driven video analytics solutions to assist heavy industry companies in improving operational safety and productivity.This investment is Tin Men Capital’s eleventh venture into B2B tech startups.

It continues to target opportunities in industries traditionally reliant on capital investments and large workforces. Ailytics plans to allocate the funds towards research and development (R&D) efforts and expansion into new markets, including Hong Kong, the Middle East, Japan, and Oceania.

Ailytics, led by CEO Lenard Tan, emphasized the company’s plans to enhance safety and productivity in heavy industry settings through its innovative video analytics solutions. The firm drives its research and development (R&D) efforts to develop advanced Video Analytics solutions powered by large vision models (LVM) capable of tackling complex tasks specific to various industries.

Tan highlighted the importance of prioritizing safety in industrial environments, aiming to mitigate workplace accidents and minimize occupational hazards while optimizing process efficiency and maximizing return on investment (ROI). 

Tan talked about the company’s mission to prioritize safety, aiming to mitigate worksite accidents, minimize occupational hazards, and enhance operational efficiency while maximizing return on investment (ROI).

Quoting a report by McKinsey, the statement highlighted the construction industry’s potential, valued at over $10 trillion annually, representing 13 percent of the global gross domestic product (GDP). Through digitization, the industry stands to increase its market capitalization by $1.6 trillion annually, making construction one of the largest sectors in the global economy. 

Ailytics’ solutions have already demonstrated impactful results, with over 1,000 cameras integrated across four countries and multiple industry verticals, facilitating increased hazard detection by up to 7 times and reducing the need for manual inspections by up to 50 percent. 

Clients, including Jurong Town Council (JTC), Woh Hup, and ST Engineering, have benefited from Ailytics’ solutions, experiencing decreased fines, stop-work orders, audit downtime, and improved behavior.

Innovative solutions from the tech startup leverage existing cameras to deliver real-time insights into unsafe behaviors, productivity metrics, and security breaches, even in challenging outdoor conditions. The company emphasizes that its technology can operate effectively with lower-resolution cameras, making it well-suited for deployment in construction sites and manufacturing plants. Tin Men Capital’s investment in Ailytics marks its 11th venture into the realm of B2B technology startups, demonstrating its commitment to supporting solutions that address critical industry challenges.

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