According to The Australian Financial Review, CSIRO-backed deep tech venture capital fund Main Sequence Ventures has invested $4 million in a newly formed start-up, spun out of multinational construction and engineering company Laing O'Rourke, which aims to use artificial intelligence to make construction and mining worksites safer.
Presien was cofounded by Kieran MacKenzie and Nathan Kirchner, who built the workplace safety product while working in Laing O'Rourke's research and development division.
The so-called Toolbox Spotter employs Artificial Intelligence (AI) vision systems based on deep convolutional neural networks, using sensors mounted on the side of heavy vehicles and machinery on worksites. It means vehicles can recognise people, vehicles and other objects working in blindspots and warn drivers about potential accidents.
Presien's product is already used by clients such as Transport for NSW, BHP, Fortescue Metals Group, Patrick, Queensland Rail, McConnell Dowell, Metro Trains Melbourne, Georgiou Group and Aurizon.
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