Startup’s vision for smart safety networks aknowledged by Venture Capital
IoT startup Logical Safety have taken a step closer to creating their vision of preemptive safety systems in the heavy industry with a successful round one investment bid to Portugal Ventures.
What does this mean for the future of the company?
A startup with an eye to disruption, Logical Safety entered the EHS technology sector in 2018 with their IoT solution designed to predict and prevent hazards in Operational Risk Management (ORM). Having already won interest from a number of global enterprises, the Portuguese company received further support in January with a round one investment from venture capital firm Portugal Ventures.
On winning the support, CEO and Founder Henrique Mateus said:
“Having received excellent feedback and results from our partners in the heavy industry, the support of Portugal Ventures is the next step in development of an industry leading EHS solution.”
Logical Safety’s “adaptive safety management” solution is designed to cut out incidents and boost productivity in high-risk operations. Their cutting-edge IoT technology combines modular software with wearables, sensors and a mobile app to monitor real-time risk, anticipate hazards and apply automated blocks and warnings to prevent emergencies.
On their recent investment, Rita Marques CEO of Portugal Ventures stated to us:
“The investment in Logical Safety reflects Portugal Ventures’ commitment to promoting innovative products and services that drive towards industry digitalization and considerably improve processes of industries through technology.
Our investment will enable the development of Logical Safety’s IoT platform with new functionalities, using machine learning and artificial intelligence, and reinforce the commercial team that will focus on attracting large companies operating in sectors where the management of EHS aspects are very demanding such as the oil & gas, cement or mining industries.”
What sets Logical safety’s offer asside from existing solutions?
Logical Safety claims to be the only solution available to managers that uses real-time data to automatically anticipate and prevent incidents. However, with the recent investment from Portugal Ventures the startup now plans on applying their cutting-edge tech to the entire spectrum of EHS responsibilities.
Logical’s CEO, Henrique Mateus, summed up the company’s ambitions:
“Our goal is to drive forward a preemptive approach to EHS management. With this support we can continue to broaden the application of our innovative solution to bring predictive capabilities to the full range of EHS management tasks.”
About Logical Safety
Logical Safety was founded by industry experts with a vision to use technology to predict risk so managers can guarantee employee safety and business sustainability. It’s cutting-edge solution has helped large enterprise effectively eradicate incidents in high-risk conditions, boost productivity and simplify management. For more information visit: lsafety.com
About Portugal Ventures
Portugal Ventures is a venture capital company that invests in the seed rounds of Portuguese startups in the areas of tech, life sciences and tourism. It manages 213 million assets through 19 venture capital funds. In 2017, CB Insights considered Portugal Ventures the most active venture capital in Portugal For more information visit: portugalventures.pt