SafeAI Raises $38 Million in Series B

by Kay Aloha Villamor in December 19th, 2022

SafeAI, a Santa Clara, CA-based global autonomous solutions for heavy equipment, announced that it raised $38 million in Series B funding with key investors including Builders VC, McKinley Management, the George Kaiser Family Foundation, and Energy Innovation Capital.

Additionally, Moog Inc. joined the round as a strategic investor. Existing investors Autotech Ventures, Brick & Mortar Ventures, Embark Ventures, Newlab, and Vimson Group also participated in the round,

The funds will be used to accelerate their autonomous vehicle technology roadmap and scale operations globally to service and deploy their growing customer base. 

With the new capital, SafeAI is focused on scaling its global operations team to support its growing customer base and on delivering contractual milestones.

In addition, the company will continue advancing the development of its industry-leading autonomous technology solution and investing in its developer and engineering teams. SafeAI is also expanding its global footprint into new geographies to meet the growing demand for off-road autonomy.

“Autonomy has existed in mining for more than two decades—but its growth has stalled when it needed to skyrocket. I founded SafeAI to change that,” said Bibhrajit Halder, founder, and CEO at SafeAI. “We’ve designed a flexible, interoperable, scalable retrofit model to enable companies across the heavy industry to uplevel their operations. The mining industry has been successfully implementing autonomy on a limited scale for years. Our approach is purpose-built to finally accelerate autonomous accessibility and deployment on a significant scale. This funding is just the beginning of our next chapter of expansion and growth.” 

SafeAI has also continued to expand its staff within the U.S., Australia, Japan, and India, more than doubling its headcount in 2022 to over 90 people.

Company: SafeAI, Inc. 

Raised: $38.0M

Round: Series A

Funding Month: December 2022

Lead Investors: Builders VC, McKinley Management, George Kaiser Family Foundation, and Energy Innovation Capital

Additional Investors: Moog Inc., Autotech Ventures, Brick & Mortar Ventures, Embark Ventures, Newlab, and Vimson Group

Company Website: https://www.safeai.ai/

Software Category: Autonomous Mining and Constructions Solutions

About the Company: Founded in 2017 by Bibhrajit Halder and Lalin Theverapperuma, SafeAI is a global autonomous solutions provider for heavy equipment leaders focused on advancing modern industry. SafeAI retrofits heavy equipment for autonomous applications in mining and construction to serve a massive ecosystem of industry players with complex needs. SafeAI enables equipment owners to transform existing machines into self-operating robotic assets with aftermarket hardware, advanced, proprietary autonomous technology, and a scalable framework for deployment. SafeAI is headquartered in Santa Clara, CA, and has offices in Perth, Australia, Tokyo, Japan, and Delhi, India.


Source: https://www.safeai.ai/en/media/safeai-raises-38-million-series-b-funding




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