Sweden’s Buddywise secures €3.5M to prevent workplace accidents using AI

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Stockholm-based Buddywise, a platform that aims to transform workplace safety with AI, announced that it has secured €3.5M in a seed round of funding. 

The investment was co-led by Kvanted, an industrial tech fund from Helsinki, and J12, an AI specialist fund. 

Existing investors Aligned and Antler also participated, along with angel investors like Hans Stråberg (Chair at Atlas Copco and SKF), Hans-Olov Blom (founder of Ramudden Global) and Eric Quidenus-Wahlforss (founder of Soundcloud).

Maria Wasastjerna, Founding Partner at Kvanted, says, “Workplace safety is crucial in the industrial sector, and to date, it is an area still lagging when it comes to digital transformation. Buddywise is a pioneer in changing this and that is the very reason we chose to support them.”

“Buddywise’s unique solution, built on computer vision models, identifies and reports risks, and can prevent fatal accidents on the factory floor. The technology brings safety in the industrial sector into the digital age.”

“We are super excited to join Lamin, Yigit, and the team in their journey towards a zero-injury vision.”

- A message from our partner -

Creating safer workplaces

Founded in 2020 by Lamin Faye and Yigit Arin, Buddywise aims to lead the charge in transforming workplace safety. Leveraging AI and computer vision, the platform enables real-time risk detection and prevention of fatalities. 

With continuous data collection, it furnishes safety leaders with insights for proactive mitigation of accidents and ensuring frontline teams at industrial sites are efficiently protected.

Industrial clients can integrate their camera systems with the platform, enabling proactive hazard mitigation.

Emmet King, Partner at J12, says, “Recent advancements related to computer vision models have seen great improvements in image classification and object detection, while also enabling efficient learning from limited information and more reliable performance across diverse real-world conditions.”

“This has positioned the technology to be the primary tool in combating the serious issue of workplace safety and to replace the status quo of reporting apps, inspections, and sensors.”

“Buddywise has built a leading solution and we’ve been thoroughly impressed by the way Lamin, Yigit, and the rest of the team are working towards a zero injury vision.”

Capital utilisation

Buddywise plans to utilise the new funds to enhance recruitment efforts for top commercial and tech talent, expand its international customer base in the industrial sector, and kickstart commercial expansion across Europe. 

Currently operational in Sweden, Finland, Latvia, and Poland, Buddywise’s solution is already deployed across various industries including infrastructure, manufacturing, and pulp and paper.

Lamin Faye, Buddywise co-founder, says, “Everybody should be able to return home unharmed after a day’s work, so we can’t accept the status quo. Every accident can be prevented and with Buddywise Operational and Safety leaders can finally get the real-time data they need to do so.”

“The new funding means that we can bring more customers towards their zero injury vision and we will invest heavily into our ability to enable learning and action based on our data-driven insights.”

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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