Hong Kong-based viAct helps construction websites perform around-the-clock tracking with an AI-based cloud platform that integrates computer vision, edge devices and a mobile app. The start-up announced today it has raised a $2 million seed round, co-led by SOSV and Vectr Ventures. The financing consisted of involvement from Alibaba Hong Kong Business Owners Fund, Artesian Ventures and ParticleX.
Founded in 2016, viAct currently serves more than 30 construction market customers in Asia and Europe. Its brand-new financing will be utilized on research study and advancement, product development and expanding into Southeast Asian countries.
The platform utilizes computer vision to detect potential security threats, building development and the location of equipment and products. Real-time alerts are sent out to a mobile app with a basic interface, developed for engineers who are typically “operating in a vibrant and loud environment that makes it difficult to take a look at in-depth control panels,” co-founder and chief operating officer Hugo Cheuk informed TechCrunch.
As business signed up for viAct to monitor websites while abiding by COVID-19 social distancing steps, the business supplied training over Zoom to help groups onboard faster. Cheuk said the company’s initial markets in Southeast Asia will consist of Indonesia and Vietnam since government planning for smart cities and brand-new facilities means new construction tasks there will increase over the next 5 to ten years. It will also go into Singapore since designers want to adopt AI-based technology.
In a press statement, SOSV partner and Chinaccelerator handling director Oscar Ramos stated, “COVID has actually accelerated digital transformation and standard markets like building and construction are going through an even much faster procedure of transformation that is vital for survival. The viAct group has not just created an item that drives value for the industry but has likewise had the ability to earn the trust of their consumers and speed up adoption.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.