DIGITAL CONSTRUCTION
SafeAI powers connected autonomous sites SafeAI recently announced $ 21 million in Series A funding led by Builders VC . The new capital will be used to advance the company ’ s interoperable autonomous technology through accelerated research and development , and fuel global expansion to meet rising demand for autonomous heavy equipment .
SafeAI is driving the transformation of the mining and construction industries through connected , autonomous sites . With chronic labour shortages , unsafe working conditions and frequent project delays , these industries are in a unique position to benefit from autonomy . And unlike on-road applications of the technology , autonomous heavy equipment operates in controlled environments , which means companies can create smarter , safer , more productive project sites today that create meaningful , near-term impact .
“ We are at a tipping point for autonomous heavy equipment ,” said Bibhrajit Halder , founder and CEO at SafeAI . “ We ’ ve proven that autonomy makes work sites significantly safer and more productive ; now , we are on the cusp of mass adoption . Together with our valued partners , customers and investors , we ’ re poised to deploy autonomy in off-road industries like construction and mining , at scale , to rethink the way heavy industry operates .”
Heavy industry is a huge , growing global market , ripe for disruption . The construction equipment market alone is valued at $ 140 billion , and expected to increase to $ 175 billion by 2025 ; construction-related spending accounts for a staggering 13 % of global GDP , or $ 11.5 trillion . But there remains significant room for growth ; in construction alone , higher productivity could create an estimated $ 1.6 trillion
"Automated vehicles offer a number of benefits to commercial fleet customers and society , including safer roads with fewer unexpected incidents , and upwards of 20 percent savings in fuel and efficiency "
PAOLO FERRARI , GLOBAL CHIEF SOLUTIONS OFFICER , BRIDGESTONE CORPORATION , AND PRESIDENT & CEO , BRIDGESTONE AMERICAS
in additional value . With just 25 % of the infrastructure needed by 2050 in existence today , autonomy can bridge this productivity gap with greater efficiency and 24 / 7 operations . SafeAI is at the forefront of this transformation .
“ There ’ s a tremendous amount of excitement in the autonomy space today ; but it ’ s clear the biggest opportunity for this technology is off-road ,” said Mark Blackwell , General Partner at Builders VC . “ With its industry-leading autonomous software , scalable retrofit approach and partner
74 August 2021