Feb 18th, 2021 – Ithaca, NY / Boston, MA – Iterate Labs, an Industry 4.0 platform that maximizes workforce productivity, operations, and safety through AI, digitized human motion, and sensor inputs, announces that they have raised their $1M seed round of funding led by Monozukuri Ventures. Iterate Labs uses wearable sensors and computer vision to connect manufacturing workforce movement and actions to improve worker safety and performance. The new investment will support scaling of current customers, customer acquisition, and investment in sales and engineering resources to support growth.
“As a specialized investor in hardware and manufacturing technology companies, we are incredibly excited to support Iterate Labs and its vision to digitize the workforce.” said Nobuhiro Seki, Managing Director of Monozukuri Ventures. “We invested in Iterate Labs because their technology maximizes workforce efforts and their data solves the key issues facing manufacturing companies: limited to no operator visibility, variability in production, safety, high turnover, and poor engagement.”
“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’ mission is to harmonize the interaction between the worker and their environment, making the worker more effective, safer, and happier along the way. “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. 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” said Apoorva Kiran, CTO and Co-founder of Iterate Labs.
Over the past 12 months, Iterate Labs has seen its customer base grow, despite the challenging business environment caused by the COVID-19 pandemic. With a pair of small wearables worn by each operator, Iterate Labs automatically identifies opportunities to improve productivity and reduce repetitive motion safety risks.
“We are beyond excited to have such well-established investors in the manufacturing space join our round. 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, CEO 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. We will be using the proceeds of the round to bring our technology to more workforces, and to provide more value along the way”.
About Iterate Labs
Iterate Labs maximizes lean operations and safety via digitized motion, AI, and real-time visibility. Through wearable sensors and computer vision we connect your workforce’s movement and actions to drive industrial KPI’s and operational performance.
To learn more about Iterate Labs, call +1 (607) 200-3738 or visit www.iteratelabs.co