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Detroit Startup GuardHat Raises $20M, Aims To Keep Industrial Workers Safe With Tech

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Detroit Startup GuardHat Raises $20M, Aims To Keep Industrial Workers Safe With Tech

Detroit-based GuardHat, Inc. provides worksite safety and injury prevention technology to 150 million industrial workers daily nationwide. The internet of things  developer has created wearables and software platforms geared toward creating safe and productive work environments.  

What Happened

On Thursday, GuardHat announced a $20-million of Series A funding round led by RTP Ventures, with participation from 3M Ventures, Caterpillar Venture Capital, Revolution’s Rise of the Rest Seed Fund and Silicon Valley Bank. This funding supplements an existing investment from Detroit Venture Partners, according to Guardhat. 

Guardhat is a member of the Quicken Loans family of companies. 

The company will now focus on scaling its staff, promoting sales, accelerating marketing practices and expanding, according to the press release. This announcement comes one month after the company’s relocation from the Detroit suburbs to downtown.

“We were excited when they joined us in Detroit, and now look forward to strengthening our partnership and watching Guardhat expand, both at home and abroad,” Detroit Venture Partners' Jake Cohen said in the release. 

Why It’s Important

GuardHat combines intelligent proprietary software with wearable technology to create a fully functional safety system that monitors safety, health and the work environment, an objective the company said few have achieved.

“GuardHat recognized the opportunity to transform worker safety in industrial settings through technology. We are proud to invest in a company that is aiding productivity and helping to save lives the world over. It is yet another example of an industry-changing idea emerging from a city outside of the coastal tech hubs,” J.D. Vance, the managing partner of Revolution’s Rise of the Rest Seed Fund, said in a statement. 

What’s Next

Guardhat CEO Saikat Dey said the company was launched with a mission of revolutionizing industry standards for workforce safety and connectivity. 

“This elite group of investors brings a wealth of experience that allows us to focus on developing technology to better protect the millions of industrial workers who are the backbone of today’s global infrastructure," Dey said of the Series A funding round announced Thursday. 

GuardHat holds eight patents in wearable solutions, real-time location services and connected worker technology. 

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Disclosure: Quicken Loans Chairman Dan Gilbert is an investor in Benzinga. 

Posted-In: 3M Ventures Caterpillar Venture Capital GuardHat industrial technology Internet of ThingsNews Financing Startups Best of Benzinga

 

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