Ericsson Ventures Invests In AI Safety Startup Voxel

(RTTNews) - Voxel, a computer vision AI company focused on workplace safety, has announced a strategic investment on Wednesday from Ericsson Ventures, part of the Telefonaktiebolaget LM Ericsson (ERIC).

The funding brings Voxel's total funding to $64 million, following its most recent $44 million Series B round led by NewRoad Capital Partners. The collaboration intends to expand Voxel's AI-driven site visibility platform on a global scale.

While Voxel CEO Vernon O'Donnell emphasized the partnership's potential to revolutionize industrial risk management across sectors, Ericsson stated that the investment is consistent with its dedication to workplace safety.

ERIC is currently trading at $10.16, up $0.40 or 4.15 percent on the Nasdaq.