Soter Analytics raises $12 million to prevent workplace injuries
We are excited to announce our latest investment in Soter Analytics, an AI-powered ergonomic technology platform to prevent workplace injuries. Also participating in the funding round are AV8 Ventures, OTB Ventures and Verve Ventures.
Soter Analytics is an ergonomic safety start-up based in the UK that uses wearables and AI-driven technology to reduce work-related muscoskeletal disorders. They track both hazardous and safe back and shoulder movements to provide easily accessible and understandable insights. These insights allow multiple stakeholders — the manual workers themselves, health and safety managers, physical therapists, and hiring managers — to make smarter and more informed decisions to minimise and prevent workplace injuries. In an industry where workers’ bodies are often treated as expendable capital, Soter Analytics’ product intends to personalise and humanise them.
Currently, Soter Analytics is used by clients such as Coca-Cola (US), Merck (UK), and Woolworths (Australia). Many new clients are already in the pipeline, with the focus on large employers, and insurance companies to catch mid-sized companies.
We are impressed by what the Soter Analytics team has achieved so far. Matthew and Aleksei are engineers by training, but definitely not only interested in machines. From Soter Analytics’ value proposition to every meeting we had with them, their motivation and passion for people was clear. We look forward to working with them on their growth journey.
The $12 million Series-A round will allow the team to invest in research and development and work alongside organisations to help them improve workplace safety, decrease employee turnover, and enable injured workers return to work faster.