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 vision AI company will use the money to expand across Asia-Pacific, the US and the Gulf.

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

Ailytics sells software that uses existing industrial CCTV systems to monitor safety and operations in sectors including construction, manufacturing, logistics, oil and gas, maritime and mining. Its system is now deployed more than 400 times across 15 countries, up from 70 projects in four countries after the previous round.

Its international footprint includes the US, Australia, the Netherlands, Hong Kong, Japan, the UAE and Saudi Arabia. The software has detected more than 5.7 million hazards and monitored more than 500 million square metres of active worksites.

Expansion push

The funding comes as Ailytics steps up efforts to build local teams in overseas markets. It plans to put people on the ground in the US, Japan, Australia and the Gulf, while targeting mid-sized industrial companies in the US.

Ailytics started in construction on Housing and Development Board and JTC projects in Singapore, working with contractors including Woh Hup, Obayashi and Soilbuild. It has since widened its customer base and now runs deployments at NatSteel, the PaxOcean shipyard in Indonesia, DHL, Rome's Leonardo da Vinci International Airport and on more than 1,000 cameras on the Changi Airport Terminal 5 project.

The business traces its roots to a joint research project between the National University of Singapore and HDB. That places it among a group of Singapore-founded AI companies seeking to move from local pilots to broader commercial rollouts in overseas industrial markets.

Industrial focus

Ailytics operates in industries where workplace safety remains a major issue. It cited global data showing that nearly three million workers die each year from work-related accidents and diseases, with heavy industries accounting for a large share of fatal occupational injuries.

Its platform analyses video feeds from existing camera infrastructure rather than requiring businesses to install new hardware. That approach can lower adoption barriers for industrial operators that already have surveillance systems in place but typically review footage only after an incident.

Ailytics said customers have reported a 73 per cent reduction in total recordable incident rate and 84 per cent fewer safety non-compliances. Those figures were provided by the company and could not be independently verified.

The software includes a platform called Ailyssa and a contextual reasoning engine called AilyssaX. According to Ailytics, the system can interpret scenes from a single camera feed and identify multi-step procedures in environments affected by rain, dust, poor lighting, obstructed views and older cameras.

That matters in heavy industry because many sites rely on ageing camera networks and operate in conditions far removed from controlled testing environments. Ailytics said five years of live deployments have helped train its models for those settings.

Investor backing

Tin Men Capital has backed Ailytics through successive rounds and worked with the founders on market selection, commercial strategy and international expansion. Safie's participation adds a strategic investor with reach in Japan, one of Ailytics' target markets.

The two companies previously signed a memorandum of understanding, and Ailytics said Safie supplies 29 of Japan's 30 largest construction companies. That link could help Ailytics deepen its access to construction and industrial customers in the country.

"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.

Prateek Manocha outlined how the new capital will be used on the product side.

"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 Manocha.

Jeremy Tan, Co-Founder and Managing Partner at Tin Men Capital, pointed to the company's commercial performance as well as its technical position in industrial markets.

"This is a team that truly understands customer workflow and industry compliance requirements to deliver value to massive legacy industries. 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. "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."