Although the spread of coronavirus is at the top of everyone’s mind, reducing the number of job site accidents still remains a high priority. AI-powered construction safety platform Newmetrix proved this recently when it announced that it had earned a $5 million round of new funding from Sony Innovation Fund (SIF) and IA Capital Group.
The platform’s previous investors, Building Ventures, Companyon Ventures and Converge, also joined the round with others. This has brought the total amount of funding that Newmetrix has raised to $21 million. With computer vision models, Newmetrix uses proprietary predictive algorithms that can forecast 85% of the jobs that experience a recordable within a week.