A business started by two former Bath schoolfriends during the Covid-19 pandemic has launched a new product range aimed at making workplace accidents a thing of the past.
Former St Gregorys schoolfriends-turned-entrepreneurs Harry Kimberley-Bowen and Ronan Finnegan founded Spacebands when the first lockdown hit in April 2020.
The firm sold more than 20,000 of its wearable contact tracing and social distancing devices around the world, helping thousands of workplaces to continue to operate during Covid-related restrictions.
Now following three years of research and development and an investment round earlier this year that raised more than £1m, Spacebands is continuing on its mission to improve workplace safety by using its sensor technology to prevent accidents, injuries and deaths in hazardous environments.
Its suite of wearable devices is designed to proactively prevent accidents by continuously monitoring for hazards such as loud noises or unauthorised access zones, so alerting workers in real-time to potential dangers.
Their impact also goes beyond immediate protection, with event data saved for analysis by health and safety managers through a dashboard and mobile app.
This data removes the guesswork from safety protocols, allowing for data-driven decision making.
Spacebands, now based in Bristol, says its products mean firms no longer need to rely on hunches about safety while the days of blaming employees for any lapses could also be over.
Spacebands’ technology identifies trends and patterns in accident-prone areas, enabling managers to take preventative action.
This translates to a safer, more efficient workplace with reduced accidents, improved productivity and significant cost savings – the annual cost of workplace accidents in the UK alone is estimated at £20.7bn.
The firm also points out that employers are responsible for reimbursing the NHS for costs associated with workplace injuries – and with its tech starting at just £25 per device per month, it can offer what it is calling a compelling solution with a significant return on investment.
The worldwide industrial wearables market is set to grow to $3.1bn by 2026, largely driven by the aftermath of the pandemic as health and safety managers have larger budgets to invest in new technologies that are proactive to workplace hazards and not reactive.
Spacebands has already secured partnerships with global brands including Amazon, DHL, and Komatsu, the Japanese construction equipment manufacturer.
Ronan, pictured above right, is a TEDx speaker who has run a range of previous businesses, including a digital marketing agency, and has developed and sold two mobile app firms, while Harry, above left, has won a number of young entrepreneur awards and has successfully led the commercial sales strategy for two start-ups.
The £1m investment came from the Development Bank of Wales, US venture capital fund Evergreen Mountain Equity Partners and more than 25 angel investors, including Bristol Private Equity Club, Angel Invest Wales and Southern Angels.
