Overview

SafeAI focuses on autonomous technology for heavy industries by retrofitting existing mining and construction vehicles with advanced systems. Their upgrades include hardware and software that allow any vehicle to operate autonomously, increasing productivity by about 1,000 hours per vehicle each year. The company generates revenue through the sale of retrofit kits and software solutions, utilizing on-vehicle cameras, radar, and LiDAR for real-time data analysis to ensure safe operation. With a leadership team experienced in both autonomous technology and heavy industries, SafeAI differentiates itself by providing tailored solutions for heavy equipment owners.

Simplify's Take

What believers are saying

• SafeAI's zero-emission haul truck aligns with growing demand for eco-friendly solutions.
• Partnerships with Siemens and Obayashi enhance credibility and market reach.
• The autonomous construction equipment market is projected to grow at a 28.7% CAGR.

What critics are saying

• Increased competition could erode SafeAI's market share in autonomous heavy equipment.
• Technological advancements may necessitate costly updates to retrofit kits.
• Potential regulatory changes could impose additional compliance costs on SafeAI.

What makes SafeAI unique

• SafeAI retrofits existing heavy equipment, reducing the need for new purchases.
• Their technology integrates with any vehicle, regardless of type or manufacturer.
• SafeAI's leadership combines expertise from top autonomous tech and heavy industry companies.

Help us improve and share your feedback! Did you find this helpful?

YesNo

Funding

Total Funding

$64M

Above

Industry Average

Funded Over

3 Rounds

$38,000,000

Series B

Dec 2022

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Meet Average

Industry standards

Ind Avg. $35M

$4M

$30M

$38M

$45M

$65M

$100M

View all funding stages