Hayden AI Secures $4.5M Funding Round Led by BootstrapLabs to Support Growth
17 May, 2021, 08:12 ET
SAN FRANCISCO, Calif., May 17, 2021 /PRNewswire/ -- Hayden AI Technologies, Inc. ("Hayden AI"), a leading smart city solutions provider, today announced the closing of a $4.5 million funding round led by BootstrapLabs, an early-stage Silicon Valley venture capital firm focused on Applied Artificial Intelligence. This brings the company's total funding to $9.5 million, including a $5 million seed round from last year. The new funding will go towards accelerating the development and delivery of AI-powered solutions aimed at enabling governments to achieve their goals of safer streets, equitable transportation, and efficient urban mobility.
In addition to BootstrapLabs also participating in the round were seed stage investor Modern Venture Partners, UC Berkeley's Strawberry Creek Ventures, and e.Republic's venture arm focused on information technology for state and local government markets. Seed round lead investor Autotech Ventures, an early-stage venture capital firm focused on tech start-ups in the global ground transportation industry, also made follow-on investments.
"This funding round positions Hayden AI for rapid national expansion, particularly in California, allowing us to accelerate and scale the deployment of our autonomous traffic management platform," said Chris Carson, Co-Founder and CEO of Hayden AI. "We are thrilled to have investors that bring significant expertise and comprehensive industry knowledge, which is invaluable as we continue to empower smart cities around the world to end traffic-related fatalities and severe injuries while providing safe and equitable mobility for all."
This latest round of funding comes as Hayden AI secures partnerships with leading public transportation and mobility providers to deliver automated traffic law enforcement solutions. Most recently, Hayden AI partnered with Conduent Transportation to deliver an automated bus lane enforcement solution featuring a transit bus-mounted perception system integrated with video analytics and violation processing technologies, thereby improving bus lane performance and enhancing traffic safety. The company's platform also wields sensor data with digital twin technology to simulate scenarios and create actionable insights into hazardous driving areas, parking management, traffic patterns, curbside management, and more, empowering traffic enforcement agencies to operate more efficiently.
"Smart technologies are driving the creation of safer cities and Hayden AI is at the forefront of this revolution," said Nicolai Wadstrom, Founder, CEO, and General Partner at BootstrapLabs. "Hayden AI's strategic approach and commitment to enabling smart and safe cities align well with how BootstrapLabs sees the role of Artificial Intelligence in shaping a better future with fellow humans at heart. Their AI-powered mobility solution enables cities to more efficiently enforce traffic laws, improving traffic safety and freeing up valuable resources. We are pleased to partner with Hayden AI to help strategically scale its AI-powered mobility solution, which will ultimately enhance public security and welfare, creating a positive impact on society."
About Hayden AI
Hayden AI was founded on the belief that by combining mobile sensors with artificial intelligence, we can help governments bridge the innovation gap while making traffic flow less dangerous and more efficient. Led by a team of experts in machine learning, data science, transportation, and government technology, we've developed the world's first autonomous traffic management platform — simultaneously serving citizens and multi-agency missions to help cities become safer and more sustainable. To learn more about Hayden AI, visit www.hayden.ai
BootstrapLabs is a leading Venture Capital firm based in Silicon Valley and focused on Applied Artificial Intelligence. The firm invests in mission-driven founders who want to shape a better future by applying artificial intelligence to solve some of the world's most important and valuable opportunities in sectors such as Mobility, Enterprise Productivity, Cyber, Health, Finance, Energy and Climate. BootstrapLabs is often the first institutional capital and acts as a lead investor at the early stages, with follow-on capital for the later stages. Founded by entrepreneurs for entrepreneurs, the firm has built a large community of Applied AI experts, founders, and executives to support its portfolio companies, and strives to be the most helpful and strategic investor, from product-market fit advisory to recruiting, business development, go-to-market strategy, and fundraising. Learn more at www.bootstraplabs.com
SOURCE Hayden AI Technologies, Inc.
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