Idelic, a Pittsburgh, PA-based transportation technology space startup, closed a $1m seed financing round.
The round was led by Birchmere Ventures, with participation from McCune Capital and M25 Group. In conjunction with the financing, Birchmere partner Sean Sebastian joined Idelic’s Board of Directors.
The company intends to use the funds to expand operations.
Founded by Carnegie Mellon alumni Hayden Cardiff, Andrew Russell, and Nick Bartel as a spinout of Pittsburgh-based less-than-truckload (LTL) Carrier PITT OHIO, Idelic uses proprietary machine learning analytics to enable transportation fleets to identify at-risk drivers and assign corrective action before accidents happen via a safety and risk management system, called SafetyBox.
The company is collaborating with Carnegie Mellon University’s Master of Science in Information Technology (MSIT) program to develop these algorithms that can predict which drivers are most at risk for accidents, incidents, injuries, violations, and citations.
FinSMEs
29/09/2017