FYLD, a London, UK-based company that provides an AI-powered field work execution platform, has raised £12 million in Series A funding, bringing its total raised to £26 million.
Investors
The round was led by the Ontario Teachers’ Pension Plan.
Ontario Teachers' Pension Plan is a global investor with net assets of $247.5 billion as of December 31, 2023. They invest in more than 50 countries across a broad array of assets, including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate, and venture growth.
FYLD Use of Funds
The company will use the fresh funds to scale its commercial team, accelerate product development, enhance its AI-driven predictive analytics platform, and expand into new markets globally.
About FYLD
Founded in 2020 by Shelley Copsey, Anish Patel, and Karl Simons OBE, FYLD provides an AI-powered field work execution platform for the infrastructure sector, particularly the utilities sector and heavy civil construction. The FYLD digital platform empowers field managers to make proactive, data-led decisions in real-time and transform operational processes and procedures with data. Using natural language processing, computer vision, and artificial intelligence, FYLD analyzes what is taking place in the field in real time, helping managers and operational teams make better decisions and drive more jobs to completion.
Funding Details
Company: Fyld Limited
Raised: £12.0M
Round: Series A
Funding Month: April 2024
Lead Investors: Ontario Teachers’ Pension Plan
Additional Investors:
Company Website: https://www.fyld.ai/
Software Category: AI-powered Field Work Execution Platform
Source: https://www.techmarketview.com/ukhotviews/archive/2024/04/18/fyld-raises-12m-for-ai-powered-field-work-platform