Western Australian industrial safety technology firm Capability X has completed a A$12 million initial public offering and listed on the Australian Securities Exchange with a customer base it is looking to expand into mining and defence.
Capability X says it has existing revenue-generating deployments of its edge AI safety monitoring and control technology with oil and gas, marine and logistics companies. The four-year-old firm says its near-term focus is converting a “growing and diverse sales pipeline” into income and expanding the pipeline domestically and internationally.
“Capability X has developed an intelligent, real-time monitoring system that gives businesses greater visibility of complex industrial environments, helping them identify emerging risks, prevent incidents, and improve operational efficiency and safety,” the company said.
“The system uses computer vision, lidar and sensors to create a spatially accurate digital twin of an operating environment, identifies emerging risk in real time and issues autonomous warnings to operators without reliance on external systems or connectivity, allowing them to intervene and act before an incident occurs.
“The company’s diverse client base has validated the technology within operations and across diverse environments, which is a strong signal of commercial traction and repeatability at scale.”
Capability X said in its prospectus it had generated revenue of more than A$3.6 million since its late 2022 incorporation and circa-$1.06 million in FY2026. It had been accepted into the Australian Government’s Industry Growth Program and has submitted a $4.2 million grant application.
