HaloTech Digital Services SL, a Spanish tech startup, has raised €10 million (US$10.8 million) in a funding round, valuing the company at €100 million (US$116.83 million) pre-money.

The funds will be used to industrialize its HALO devices, expand its HaloTech AI platform, and grow its presence in markets including the US, Latin America, and the Middle East.

HaloTech plans to use the funding to establish factories or joint ventures in Texas, São Paulo, and Castilla-La Mancha, Spain.

The funding round attracted both national and international investors, including family offices and institutional groups focused on environmental, social, and governance (ESG) criteria and industrial innovation.

Founder Manu Marín retains over 70% ownership of the company.

Founded in 2023, HaloTech specializes in AI and IoT-based industrial safety solutions.

Its HaloTech AI platform offers real-time monitoring of workplace environments, worker behavior, and potential risks. The company operates in over 20 countries, primarily serving sectors such as mining, energy, construction, and waste management.

🔗 Source: EU-Startups

🧠 Food for thought

1️⃣ Industrial safety tech attracting substantial investment for nearly a decade

HaloTech’s €10 million funding round continues a pattern of significant capital flowing into workplace safety technology that dates back to at least 2016.

SafetyCulture, a pioneer in this space, raised $23 million in 2016 for its iAuditor app which facilitated over 1 million safety inspections monthly at that time1.

By 2018, SafetyCulture secured another $60 million, reflecting growing investor confidence in workplace safety solutions2.

In the same year, Guardhat raised $20 million to develop smart hard hats and IoT safety systems targeting industries where 150 million workers use hard hats daily3.

These investments show that HaloTech is entering a mature funding landscape where investors have consistently recognized the value proposition of technology that reduces workplace accidents and improves compliance.

The consistent funding pattern suggests that despite many entrants, the industrial safety market remains large enough ($150 billion according to SafetyCulture’s data) to support multiple specialized players with different technological approaches1.