Latest news with #SingtelInnov8
Zawya
26-05-2025
- Business
- Zawya
viAct fuels MENA's expansion via $7.3mln funding round
Mubasher: Hong Kong-based AI company viAct has raised $7.30 million in a Series A round led by Ireland's VentureWave Capital, with participation from Singtel Innov8 and Korean Investment Partners. The company plans to expand its business globally and in the Middle East, particularly Saudi Arabia, to support its construction and energy sectors with AI-driven safety and productivity solutions, according to a press release. With this funding, viAct will grow its AI research and development (R&D), build local teams in MENA, and localize its technology to meet the region's environmental, regulatory, and operational needs. Gary Ng, Co-founder and CEO of viAct, commented: "Our goal is to redefine industry standards, positioning viAct at the forefront of this transformation. With our cutting-edge AI solutions, we aim to empower every stakeholder to achieve unprecedented levels of efficiency and responsibility." Hugo Cheuk, Co-founder and COO of viAct, stated: "As we expand into new markets, our commitment to leveraging AI for smarter safety practices has never been stronger. This investment allows us to enhance our technology and further our mission of creating a safer, more sustainable work environment." Sharan Makhija, Senior Director – Investments of Singtel Innov8, noted: 'viAct's AI-powered platform can leverage 5G networks to enable real-time monitoring, instant alerts, and data-driven insights. By integrating AI with 5G connectivity, viAct enhances operational efficiency, ensures proactive hazard detection, and helps create safer, more responsive work environments.' Founded in 2016, viAct serves more than 200 contractors globally with its AI-powered platform for real-time risk detection, predictive analytics, and automated compliance.
Wamda
22-05-2025
- Business
- Wamda
viAct raises $7.3 million to accelerate MENA expansion
viAct, a Hong Kong-based AI company, has raised $7.3 million in a Series A round led by Ireland's VentureWave Capital, with participation from Singtel Innov8 and Korean Investment Partners. The company plans to expand aggressively in the Middle East, particularly Saudi Arabia, to support its booming construction and energy sectors with AI-driven safety and productivity solutions. Founded in 2016, viAct serves over 200 contractors globally with its AI-powered platform for real-time risk detection, predictive analytics, and automated compliance. Its solution has helped companies prevent thousands of incidents while improving project timelines, operational efficiency, and profitability across sectors including construction, oil & gas, and logistics. With this funding, viAct will grow its AI R&D, build local teams in MENA, and localise its technology to meet the region's environmental, regulatory, and operational needs. Press release: Workplace safety isn't just about compliance—it's about protecting lives, preventing costly delays, and driving business profitability. Yet, for decades, industries like construction, oil & gas, and manufacturing have relied on reactive measures, addressing safety incidents only after they occur. AI is changing that. By leveraging real-time risk detection, predictive analytics, and automated interventions, companies are now transforming safety into a strategic advantage that enhances efficiency, reduces financial losses, and accelerates project timelines. One company at the forefront of this revolution is viAct and with its latest funding, it's poised to redefine how safety impacts the bottom line. viAct, an AI-powered impact monitoring platform, announced the close of its US$7.3M Series A round, led by Dublin-based private equity firm VentureWave Capital, with participation from the CVC of Asia's leading communications technology group Singtel, Singtel Innov8, Korean Investment Partners, and The PolyU Entrepreneurship Investment Fund. This funding marks a major milestone in viAct's mission to redefine workplace safety not just by preventing accidents but by transforming safety into a profit-driving advantage for businesses. viAct, a pioneer in AI-driven safety solutions, has developed an ecosystem that reduces costly delays, improves operational efficiency, and maximises project profitability while ensuring compliance and worker well-being. This has made it the first choice for 200+ contractors worldwide. Unlike traditional site monitoring, which relies on manual oversight and fragmented tools, viAct's AI-powered platform delivers real-time risk detection, predictive analytics, and automated interventions. This allows companies to reduce downtime, avoid expensive disruptions, and accelerate project timelines. The result? Double-digit efficiency gains, lower insurance costs, and stronger bottom-line performance. While many AI solutions address isolated challenges like PPE compliance or hazard detection, viAct has been pioneering a holistic AI monitoring platform since 2016. Seamlessly integrating proprietary computer vision models with advanced AI Agents, viAct does not just enhance safety; it optimizes workflows, prevents costly errors, and boosts overall site productivity across industries like construction, oil & gas, mining, logistics, facility management, and manufacturing. The business case for AI-driven safety is undeniable. Companies using viAct's solutions have prevented thousands of workplace incidents, significantly reducing liability and insurance claims. By mitigating risks in real time, projects are completed faster, minimising unexpected delays and financial losses. AI automation has also improved workforce productivity, eliminating the need for manual compliance tracking while ensuring seamless regulatory adherence. Moreover, viAct's AI optimises resource use, helping businesses achieve sustainability targets faster and reduce environmental impact. With this latest funding, viAct is set to: Advance AI capabilities – Developing more sophisticated models for hazard prediction, environmental compliance, and workforce safety to help businesses maximise efficiency while maintaining regulatory compliance. Expand globally – Strengthening its presence in the Middle East, particularly Saudi Arabia, where demand for AI-driven safety and operational efficiency solutions is growing rapidly. Grow its team – Attracting top AI, engineering, and sustainability talent to push the boundaries of innovation and industry transformation. This investment is more than just capital; it is a catalyst for reshaping workplace safety into a strategic business advantage. As industries worldwide tighten regulations and demand greater accountability, viAct is bridging the gap between compliance and profitability, proving that safety is not just a legal requirement but also a competitive edge. In this context, both Gary Ng and Hugo Cheuk emphasise viAct's commitment to pushing the boundaries of AI, with a strong focus on empowering stakeholders to drive critical impact in the society. "We envision a future where construction is synonymous with innovation, safety, and sustainability," said Gary Ng, Co-founder and CEO of viAct. "This funding is not just a financial milestone—it is a catalyst for change. Our goal is to redefine industry standards, positioning viAct at the forefront of this transformation. With our cutting-edge AI solutions, we aim to empower every stakeholder to achieve unprecedented levels of efficiency and responsibility." In the cosmopolitan when industries are embracing automation for an improved operation, viAct's innovation has been becoming indispensable for contractors, manufacturers, and enterprise leaders worldwide. More than just an AI solution, viAct has become the flag bearer of the movement toward smarter, safer, and more sustainable industrial practices on a global scale. Echoing this vision, Hugo Cheuk, Co-founder and COO of viAct, stated: "As we expand into new markets, our commitment to leveraging AI for smarter safety practices has never been stronger. This investment allows us to enhance our technology and further our mission of creating a safer, more sustainable work environment." 'Singtel Innov8 is proud to support viAct in its mission to enhance workplace safety for frontline workers,' said Sharan Makhija, Senior Director – Investments of Singtel Innov8. 'viAct's AI-powered platform can leverage 5G networks to enable real-time monitoring, instant alerts, and data-driven insights. By integrating AI with 5G connectivity, viAct enhances operational efficiency, ensures proactive hazard detection, and helps create safer, more responsive work environments.' The message is clear: smart safety pays off. Contractors using viAct are not just preventing accidents; they are reducing liabilities, completing projects faster, and driving higher profitability. With AI taking the guesswork out of risk management, safety is no longer a burden but a growth enabler. As industries push for efficiency, compliance, and sustainability, viAct is proving that the safest sites are also the most successful.
Forbes
16-04-2025
- Business
- Forbes
Hong Kong AI-Powered Workplace Software Startup Viact Raises $7.3 Million Round
Gary Ng (right), cofounder and CEO of Viact; Hugo Chuek, cofounder and COO. Viact Viact, a Hong Kong-based startup that uses artificial intelligence to monitor workplace safety at industrial facilities, has raised $7.3 million from investors including Singtel Innov8, the corporate venture arm of telecoms giant Singapore Telecommunications. Viact said on Wednesday its Series A round was led by Irish investment firm Venturewave Capital. Other investors who participated in the funding round include Korea Investment Partners and PolyU Entrepreneurship Investment Fund. The startup will use the proceeds to improve its AI video analytics software, said cofounder and CEO Gary Ng in an interview at Viact's head office. Viact will also expand its existing business in Singapore and the Middle East, and enter new markets in Europe and the U.S., Ng said. Viact's most recent fundraising was in 2021, when it secured $2 million in a seed round from investors including Alibaba Entrepreneurs Fund. The startup was featured on Forbes Asia 100 to Watch list in 2022. Viact's computer vision software can detect safety issues at job sites, such as danger zone intrusion. Viact Ng, a trained building engineer, cofounded Viact with schoolmate Hugo Cheuk in 2016 after seeing potential to digitize the labor-intensive construction industry. One obvious area was safety inspection, which at the time was carried out by security personnel monitoring surveillance cameras from a control room. So Ng and Cheuk developed a computer vision software that can detect issues such as workers not wearing protective gears, danger zone intrusion and machinery collision. Early on, the duo often had to set up cameras at construction sites and spend days there to capture data for building the software, Ng recalled. Their software, launched in 2019, works through construction sites' existing security cameras. When potential hazards are identified, it will trigger on-site alarms as well as mobile alerts to notify off-site managers. The data is stored on clients' servers or high-security public clouds, and Viact can access them only with clients' consent, said Ng. 'There're a lot of domain specific applications that no other generic AI company, such as Sensetime, could do,' Ng said. 'Because we come from the construction industry, we understand how it works.' Viact has since expanded to serve industries such as oil and gas, mining and manufacturing, adding capabilities to detect issues from gas leaks to product defects and bad worker postures. The startup also added functions that help work sites improve productivity, such as fleet route optimization, and monitor environmental issues, such as pollution and illegal dumping. Viact's software has been deployed in more than 300 work sites, mostly in construction, followed by oil and gas and manufacturing, said Ng. Its clients in Hong Kong include government departments and major property developers like Henderson Land Development. In Singapore, it works with government housing and land transport projects, while in Saudi Arabia, it serves oil behemoth Aramco as well as the Neom megacity project. Ng declined to disclose Viact's financials, but said the startup has been profitable since 2019. Viact is now working with an undisclosed data center operator to deploy its workplace safety software, said Ng. Meanwhile, the startup is looking to connect its software to drones and robots. Viact's computer vision technology will allow drones to inspect the facade of high-rise buildings, while enabling robots to track progress at work sites, Ng added. Viact is among the Hong Kong startups that are capitalizing on one of the world's most urbanized markets. Others in the real estate technology space include Ampd Energy, which develops an all-electric replacement for diesel generators at construction sites. The company, whose power storage systems are deployed by major local developers including Sun Hung Kai Properties and Sino Group, was featured on Forbes Asia 100 to Watch list in 2021.
