About SafeAI
SafeAI focuses on autonomous technology for heavy industries like mining and construction by retrofitting existing heavy vehicles with advanced systems. Their technology includes hardware and software that allows any vehicle to operate autonomously, increasing productivity by about 1,000 hours per vehicle each year while enhancing safety and reducing costs. SafeAI generates revenue through the sale of retrofit kits and software solutions, and their unique approach of upgrading existing vehicles sets them apart from competitors. The company's goal is to improve efficiency and safety in the mining and construction sectors through their autonomous solutions.
Santa Clara, CaliforniaHeadquarters
2018Year Founded
$62.3MTotal Funding
SERIES_BCompany Stage
Robotics & Automation, Industrial & ManufacturingIndustries
51-200Employees
Risks
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.
Differentiation
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.
Upsides
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.
Funding
Total raised$62.25 M
Latest valuation$190.00 M
StageSERIES_B
SERIES B
11/30/2022$38
$190.00 M$5
$25.00 M