The Launch Place invests $250,000 in Netarus
DANVILLE, Va. (April 4, 2016) – The Launch Place announced today that it is investing $250,000 in Netarus, LLC, to facilitate the company’s rapid expansion of its visual safety and analytic platforms in the construction, industrial, marine and transportation markets.
The company’s initial product, HoistCam, is a video capture system consisting of (1) a ruggedized wireless camera mounted on a crane’s hook block, and (2) a wireless monitor and video receiver box installed by an equipment operator. Netarus’ HoistCam Director Platform allows their customers to monitor and record HoistCam activity from anywhere in the world via 3G, 4G, or a Wireless Access Point. The Director system also allows for the integration and monitoring of third party equipment such as Unmanned Aerial Vehicles (UAVs). Both hardware systems integrate into Netarus’ full-service video analytics suite that includes complete job site analysis from BIM model integration to logistics tracking.
This revolutionary system connects hardware across platforms and brings the ability to detect problems through data analysis before traditional failsafes can flag an issue in the field. This affords huge time and money savings on job sites. Netarus is now positioned to implement their safety and productivity products/services while continuing to evolve within a dynamic marketplace.
As part of The Launch Place’s investment criteria, Netarus will have operations in Danville that will create at least five jobs with an average salary of $50,000 in the next three years.
“Netarus is an innovative company in the way they are solving problems such as eliminating blind spots for heavy equipment operators and giving management the ability to increase safety as well as improve productivity,” said Eva Doss, The Launch Place President & CEO.
“Their suite of products allows for easy integration and utilization for each industry they work with,” she said.
Netarus, headquartered in Norfolk, Virginia, has been developing systems to improve job site safety and accountability since 2012. “The total integration of our HoistCam hardware platform and analytics suite gives Netarus a significant position in the development and sale of management information in the big data era,” says Chris Machut, CTO at Netarus.
Netarus’s President, Mark Shaw, states “We are truly pleased to be working with The Launch Place and the Danville region. After looking across the state, we found that the region’s focus on technology development coupled with The Launch Place’s strong leadership team would be a natural fit to help rocket our business to the next level.”
About The Launch Place
The Launch Place, from a $10 million grant received from the Danville Regional Foundation in 2012, assists with entrepreneurship and business development, and job creation and retention through its business consulting, mentoring and training, residential and office subsidies, and two seed investment funds in the Dan River region of Virginia.
The safety and productivity benefits for cranes and other heavy equipment through the deployment of the HoistCam and TugCam products is gaining traction nationwide and in other countries. Netarus works through Distributor/Dealers and maintains direct sales responsibility in areas not served by the network. Of particular significance in the crane industry is the number of “Bind Lifts” that tower crane operators must perform. From their position they have only radio communications with riggers and often cannot see the load until it is several stories in the air. With the HoistCam they have a clear view of the riggers and the load. This not only prevents serious accidents but increases the efficiency of operations resulting in significant ROI for the company.