Ailytics raises USD $7.4 million to expand globally

Ailytics has raised USD $7.4 million in a Series A funding round led by Tin Men Capital. The Singapore company will use the money to expand into the US, the wider Asia-Pacific and the Gulf.

SG Growth Capital and Safie joined the round, alongside one of Japan's largest construction companies, family offices and returning investors. The deal follows a USD $2.7 million pre-Series A round, also led by Tin Men Capital.

Ailytics develops software that uses existing industrial CCTV systems to monitor safety and operations in sectors including construction, manufacturing, logistics, maritime, mining, and oil and gas. Its systems are now deployed more than 400 times across 15 countries, up from 70 projects in four countries after its earlier fundraising.

Its footprint includes projects in the US, Australia, the Netherlands, Hong Kong, Japan, the UAE and Saudi Arabia. The platform has detected more than 5.7 million hazards and monitored more than 500 million square metres of active worksites, according to Ailytics.

Industrial focus

The business started in construction through projects linked to Singapore's Housing and Development Board and JTC, and with contractors including Woh Hup, Obayashi and Soilbuild. It has since expanded into other industrial settings, with deployments at NatSteel, the PaxOcean shipyard in Indonesia, DHL, Rome's Leonardo da Vinci International Airport and on more than 1,000 cameras at the Changi Airport Terminal 5 project.

Ailytics positions its software around industries where workplace injuries remain a persistent problem. It cited global labour data showing that nearly three million workers die each year from work-related accidents and diseases, with heavy industries including construction, manufacturing and marine accounting for a large share of fatal occupational injuries.

Most industrial worksites already have camera systems in place, but footage is often reviewed only after an incident. Ailytics says its software analyses those feeds in real time to identify hazards, non-compliance and operational issues while work is under way.

Customers have reported a 73 per cent reduction in total recordable incident rate and 84 per cent fewer safety non-compliances, according to the company. Those figures were not independently verified.

Expansion plans

The new capital is intended to help Ailytics build teams in the US, Japan, Australia and Gulf markets. It also wants to expand beyond construction into a broader range of industrial customers, particularly in markets where it sees demand for lower-cost monitoring tools built around existing camera infrastructure.

"In five years, we've grown from a Singapore startup to running more than 400 deployments across 15 countries and four continents. This round puts local teams on the ground in the US, Japan, Australia and the Gulf, and in the US we intend to win the mid-sized industrial companies that incumbents have priced out. We are building a global industrial AI company from Singapore, and our biggest chapter is still ahead," said Lenard Tan, Co-Founder and Chief Executive Officer of Ailytics.

Ailytics traces its origins to a joint research project between the National University of Singapore and the Housing and Development Board in 2019. It said that background helped shape its focus on applying computer vision to live industrial environments rather than office software or consumer products.

Technology base

The company's platform, called Ailyssa, is designed to derive three-dimensional spatial understanding from a single two-dimensional video feed. A newer reasoning engine, AilyssaX, was introduced to process changing site conditions and verify multi-step procedures, according to Ailytics.

Ailytics said its models have been trained on live deployments over several years and can operate in conditions such as rain, dust, poor lighting, obstructed views and with older cameras. That is relevant in industrial settings, where equipment is often installed long before newer AI-based tools are considered.

"We've already proven that advanced computer vision can run on a decade-old camera and handle safety, productivity and security from one platform. This round lets us build our own domain-specific models and keep the cost of running AI low as demand grows," said Prateek Manocha, Co-Founder and Chief Technology Officer of Ailytics.

Safie's participation adds to Ailytics' push into Japan. The two companies had previously signed a memorandum of understanding, and Ailytics said Safie's role as a supplier to many of Japan's biggest construction groups could help deepen its access to that market.

Tin Men Capital, which also backed the earlier round, said it had worked with the founders on market selection, commercial strategy and overseas growth. The investment firm focuses on enterprise and frontier technology businesses from Southeast Asia.

"This is a team that truly understands customer workflow and industry compliance requirements to deliver value to massive legacy industries. The access to non-public data also enables the models to be sharper for these specific purposes, and all of this creates a truly defensible moat," said Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital.

"Ailytics has also reached 15 markets at very robust unit economics and client churn below 1 per cent. We definitely want to be right behind the team as it scales globally."