SafeAI, a San Jose, California-based provider of autonomous vehicle technology, raised $5m in funding.
The round was led by Autotech Ventures, with participation from Brick & Mortar Ventures, Embark Ventures, and existing investor Monta Vista Capital. Dr. Alexei Andreev, managing director at Autotech Ventures, joined the Board of Directors.
The company intends to use the funds to accelerate development of its platform.
Led by Bibhrajit Halder, CEO, SafeAI has developed an autonomous vehicle platform for the mining and construction equipment industry. Its open, modular, and upgradable architecture – which combines the best practices of autonomy and artificial intelligence (AI) algorithms to produce an innovative safety solution that ensures site-wide safety – will allow mining and construction customers to utilize an autonomous solution for specific tasks to improve safety, reduce costs, reduce downtime, and increase productivity.
SafeAI is partnered with Doosan Bobcat and is already operating an autonomous Bobcat skid steer loader at their test site in San Jose,CA.