A New York based company Kinetic that develops wearable devices to reduce workplace injuries announced securing US$ 11.25 million series A funding on 10th November 2020. This consists of US$ 8.25 billion of equity funding and US$ 3 million of debt financing.
This series A round was led by Crosslink Capital with participation from Nationwide venture capital, Primary Ventures. The new investors Ubiquity Ventures and Prologis Ventures also participated in this round. Kinetic is planning to use this funding for growing their marketing, engineering, sales, and research & development. Kinetic provides the key component which completes the safety plan for the work force of any organization.
REFLEX
The product offered by company REFLEX, uses statistics for providing timely reminders and notifications to the work force when it detects any high risk motion, like unsafe postures causing injuries in warehouses, factories or construction sites. It also helps with the detection of Covid-19 exposure and enables efficient contact tracing and safe distancing methods to combat Covid-19. Basically REFLEX is a wearable technology focused on increasing productivity, safety and protection of workers. The cutting edge technology employs sensors, industry-leading data science and ML assists it to provide accurate biomechanics and available data sets. Their team constantly uses the algorithm to help them characterize risky motions and activities precisely. They have designed the device with drop proof, waterproof and ruggedized features that makes it ideal for the industrial environment and allow it to survive in the work floor. It easily docks for the charging purpose and the use of a lithium polymer battery gives it a good backup. After trying many prototypes, they finalized REFLEX as their first product in 2016.
The algorithms of the tool classify several motions like overreaching, bending, twisting, self calibration that provides alerts for the workers. They can toggle between the goals set by the company and the info stored on the device. The employees get breakdowns of activities and insights on a weekly or daily basis. The metrics can be seen by the job type or high risk posture that can help in finding the cause of injury.
About Kinetic
Kinetic was founded in 2014 by Haytham Elhawary and Aditya Bansal and headquartered in the greater New York area USA. The Kinetic team presently has 40 employees across Canada and the US. Tens of thousands of workers across the globe use the reflex device in several logistics, manufacturing and retail industries to have better protection measures in the industrial workforce.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
[…] Next Story […]