App/tech business of the week ~ SoterSpine
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What? ~ SoterSpine aims to predict and prevent musculoskeletal injuries among industrial workers. A wearable sensor attaches to existing workplace clothing and sends data for analysis. Tests have shown this can reduce risk of injury by 70 per cent.
Where? ~ Trials are available at www.soteranalytics.com
Who? ~ Co-founder and CEO Matthew Hart has a reliability engineering degree and seven years’ experience in the mining industry, recently completing an MBA at HEC Paris.
Co-founder and CTO Alexey Pavlenko is a developer with multiple startup experience. They have a development team in Estonia, including a physiotherapist, a data scientist and developers.
Quote ~ “Having worked in heavy industry, I've seen too many injuries in the workplace and the suffering that follows for the injured person. By making an elegant solution that solves the largest industrial injury problem, we’re helping people go home safely to their families every day,” Matthew Hart said.
$/News ~ The company has raised $80,000 of a $500,000 seed round from angel investors and is open for enquiries from interested parties.
Key milestones include $US10,000 monthly recurring revenue and being one of 10 Australian businesses to win a National Energy Resources Australia innovation award and $20,000 grant. In the EU, North America and Australia, $140 billion is spent on workplace musculoskeletal injuries annually.