Highlights:

  • Any type of vehicle may be equipped with the startup’s tech platform, which includes data analytics tools, intelligent edge processing, and smart cameras to automate processes like bus stops and bus lane enforcement.
  • The New York MTA reports that since implementing Hayden AI’s mobile perception technology, its buses have had 20% fewer car crashes and an average five percent increase in speed on mandated routes.

Artificial intelligence startup Hayden AI Technologies Inc. raised USD 90 million in a growth equity financing round to provide an exhaustive vision AI platform in some large cities of the U.S.

TPG’s The Rise Fund led the round, with participation from Drawdown Fund and Autotech Ventures, among other current investors.

Hayden AI is an emerging contender in “smart city intelligence.” It provides a mobile vision platform driven by vision AI that gathers geographical data from various cameras and sensors. This is done to collect the data that cities require to plan and guarantee the efficient operation of public transportation networks.

Detecting and enforcing parking infractions that could interfere with public transportation or affect road safety is one of its functions. The startup’s technology platform, which includes smart cameras, intelligent edge processing, and data analytics tools, can be installed on any vehicle to automate tasks such as bus lane and bus stop enforcement. Additionally, it provides city planners with exceptional insight and situational awareness, aiding them in making more informed decisions to meet their operational and sustainability objectives.

The platforms can do more than just enforce moving and parking infringements. They can support city planners in identifying and predicting traffic jams, keeping an eye on municipal assets, and streamlining public transportation systems, all of which contribute to increased service quality and safety.

Chris Carson, the Founder and CEO of Hayden AI, stated that the funding raised would enable his company to realize its vision of becoming an urban operating system and assisting in improving living conditions for city dwellers.

The business claims to have made significant progress toward that objective, rising to the top of the USD 748 billion-a-year worldwide smart city industry. As of now, its technology has been integrated by urban transport agencies such as Washington D.C.’s Metro, New York’s Metropolitan Transportation Authority, East Bay’s Alameda-Contra Costa Transit District, and Los Angeles’ Metro.

The New York MTA reports that since implementing Hayden AI’s mobile vision technology, its buses have had 20% fewer vehicle crashes and an average five percent increase in speed on mandated routes. Furthermore, according to MTA estimates, automated camera enforcement has reduced greenhouse gas emissions from its cars by five percent to ten percent.

According to Carson, a portion of the capital raised would be used to investigate potential uses for Hayden AI’s platform. It also wishes to investigate other collaborations with suppliers of smart city technologies, including the one that was just announced with Verra Mobility Corp.

To assist municipal transportation agencies in providing the public with safer and more dependable services, Hayden AI clarified that it is attempting to integrate Verra Mobility’s safety and mobility event-processing technology with its mobile vision platform. The alliance aims to increase the value of community transit through lower exhaust pollution, higher usage rates, and safer conditions for pedestrians and cyclists.

Steve Ellis, managing partner of TPG’s The Rise Fund, believes Hayden AI is on the right track because big cities are required to improve the operational efficiency and security of their public transportation networks while also boosting sustainability. He thinks they can accomplish all those objectives with the aid of Hayden AI’s technology.

Hayden AI’s proprietary technology offers a solution that sits at the intersection of accessibility, safety, and sustainability and is well-aligned with The Rise Fund’s pursuit of rapidly growing businesses that deliver social and environmental impact at scale,” Ellis added.