26 OCT 2026 — Ailytics, a Singapore start-up that runs vision AI over the CCTV cameras already mounted on construction sites, shipyards and warehouses, has closed a US$7.4 million Series A, with Tin Men Capital as lead investor. The company announced the round on 26 October and says the money will pay for larger local teams in Japan, Australia, the Gulf and the US.
The round is close to three times the size of the last one. Tin Men Capital was also the lead when Ailytics raised a US$2.7 million pre-Series A two and a half years ago, according to the company's release at the time, with Aurum Investments and AngelCentral alongside it.
Who joined the round
Ailytics names three outside participants beyond the lead. SEEDS, described as part of SG Growth Capital, is the Singapore investor. The other two are Japanese: Safie, a cloud video platform, and an unnamed company the release describes only as one of Japan's largest construction firms. Family offices and returning investors made up the rest. The company calls the round oversubscribed.
The Japanese money has a back story. In April, Ailytics and Safie signed a memorandum of understanding to explore pairing Ailytics' analytics with Safie's cloud recording, including reseller arrangements and pilot projects. Officials from Enterprise Singapore and the Tokyo Metropolitan Government witnessed the signing. Safie says it is used by 29 of Japan's 30 largest construction companies, and Ailytics describes the new investment as an extension of that partnership in a priority market.
From 70 projects to 400 deployments
Ailytics was founded in 2021 by chief executive Lenard Tan and chief technology officer Prateek Manocha. The company says the work began two years earlier as a joint research project between the National University of Singapore and the Housing and Development Board (HDB), and that its early work was in construction, on HDB projects and for contractors such as Woh Hup and Obayashi.
By its own count it has gone from 70 projects in four countries at the 2024 raise to more than 400 deployments across 15. Customers it names now include NatSteel, DHL and the PaxOcean yard in Indonesia, along with the airport in Rome and the construction of Changi's Terminal 5, where the company says it watches more than 1,000 cameras. It also says its platform has flagged more than 5.7 million hazards.
"In five years, we've grown from a Singapore start-up into a platform running more than 400 deployments across 15 countries and four continents," Tan said in the announcement.
What the money is for
The product, Ailyssa, works out three-dimensional distances from a single flat camera feed, which the company says lets it mark a danger zone under a heavy load or a fixed radius around hazardous equipment. In June the company added a reasoning engine, AilyssaX, which it says can verify whether a multi-step procedure was followed.
Manocha said the round "lets us build our own domain-specific models and keep the cost of running AI low as demand grows". In the US, Tan said, the target is mid-sized industrial firms "that incumbents have priced out".
Tin Men Capital's argument is about data. "The access to non-public data also enables the models to be sharper for these specific purposes," said Jeremy Tan, co-founder and managing partner of the firm. He also put client churn at below 1 per cent.
The safety numbers behind the pitch
Ailytics frames its market with global and local death tolls, and both are worth checking against the originals. The International Labour Organization (ILO) estimated in November 2023 that work-related accidents and diseases kill nearly three million workers a year. Most of those, 2.6 million, are deaths from disease. Accidents account for about 330,000, the smaller share and the one a site camera is aimed at. The ILO's 63 per cent figure for the most hazardous sectors also includes agriculture, forestry and fishing, sectors Ailytics does not list among its targets.
At home the record has improved. The Ministry of Manpower's 2025 workplace safety report counted 36 deaths, for a record-low fatal injury rate of 0.96 per 100,000 workers. Construction had 13 of them, transportation and storage seven and manufacturing four. Construction's fatal injury rate fell from 3.7 to 2.3 per 100,000 workers.
What the release leaves out
The announcement gives no valuation and does not say how much Tin Men put in. Its boilerplate says the firm usually writes Series A cheques of US$2 million to US$4 million, but the split between investors in this round is not disclosed. The release also does not name the Japanese construction company.
The performance claims are the company's own. Ailytics says customers report recordable incidents down 73 per cent and safety non-compliances down 84 per cent, but it gives no sample size or baseline period, and no independent audit has been published. The churn figure comes from the lead investor.
The two published versions of the release also differ in places. A shorter wire version has Manocha speaking of "domain-specific reasoning models". The quotations here follow the company's own page.
View author profile → · Editorial policy
