BOSTON – Iterate Labs, a wearable technology company, recently announced that it raised more than $1 million in seed round funding from Monozukuri Ventures and co-investor Tyson Ventures, Tyson Foods Inc.’s venture capital division.
“At Tyson Ventures, we are continually exploring new areas of technology and artificial intelligence that can improve the health and well-being of our team members,” said Rahul Ray, director of Tyson Ventures. “We believe Iterate Labs’ Industrial IOT platform could be a game changer driving real-time visibility, safety, and productivity for the North American manufacturing workforce.”
Iterate Labs said it uses wearable sensors and computer vision to connect manufacturing workforce movement and actions to improve worker safety and performance. The wearable devices, worn by each operator, identify opportunities to improve productivity and reduce repetitive-motion safety risks.
“We have built a connected worker platform to date that aligns each division within an industrial facility around the most important resource for these facilities, their workforce,” said Apoorva Kira, chief technology officer and co-founder of Iterate Labs. “Over the past several years our platforms have enabled safety, operations, HR, training, and automation teams to work together and to optimize the sustainability of their workforce.”
The company said this new investment will support scaling of current customers, customer acquisition and investment in sales and engineering resources.
“As one of the world’s largest food companies, Tyson Foods’ strong support for their workforce and continued focus on innovation will help us more effectively solve the needs of our customers” said Jason Guss, chief executive officer and co-founder of Iterate Labs. “This is just the start of our exciting journey to digitize manufacturing facilities and to enable a safer and more productive environment for our front-line workers.”