Kodifly Raises $750k from Laidlaw Scholars Ventures to Advance AI-Driven Safety and Operations
Tuesday, July 16, 2024
Kodifly has raised $750K from Laidlaw Scholars Ventures to support its mission of enhancing infrastructure management through advanced spatial intelligence.
HONG KONG, July 8, 2024 /PRNewswire-PRWeb/ -- Kodifly, a technology company using AI to support infrastructure management and increased safety in the Transportation sector announced today a $750K investment from Laidlaw Scholars Ventures. This funding will support Kodifly's productisation of its solutions, which use machine learning to create digital replicas of environments using LiDAR and real-time video analytics within urban environments.
"This investment from Laidlaw Scholars Ventures marks a significant milestone for Kodifly. It will empower us to advance our AI technologies, productise our offerings, and expand our market presence." -Henry Wong, co-founder and CEO of Kodifly.Kodifly, founded in 2021 by Henry Wong and Saad Shahid Anwel, both former Laidlaw Scholars at The University of Hong Kong, focuses on leveraging a combination of camera, and LiDAR and uses its proprietary AI models to improve urban mobility and infrastructure resilience. Their products include solutions for traffic management, pedestrian safety, driver aids and environmental monitoring, enabling any combination of fixed and mobile input data, and real-time or periodic analysis, to deliver actionable insights for rail operators, transport managers and city planners.
This is the first funding round that the business has taken from external investors, and the team are keen to use these funds to transition the business from its core expertise within the railway sector into both Airport and Highway Management, with existing contracts in both sectors secured within Hong Kong. Their pipeline includes numerous operators of transportation infrastructure across Southeast Asia, the UK and the US, and they anticipate their market-leading platform being rapidly adopted.
Henry Wong, co-founder and CEO of Kodifly, expressed his enthusiasm: "This investment from Laidlaw Scholars Ventures marks a significant milestone for Kodifly. It will empower us to advance our AI technologies, productise our offerings, and expand our market presence. Ultimately, this will help operators enhance infrastructure management efficiency, improve safety, and reduce maintenance costs by leveraging smart city technology through 3D perception and analytics."
Niall Santamaria, Chief Investment Officer of LSV, said, "Henry and Saad are exceptional entrepreneurs who were early to identify the opportunities and potential of spatial data. The models they are building have the potential to automate the detection and analysis of any anomaly, and while their success in the Transportation sector is evident, the data they are interpreting has far broader applications, with vast opportunity."
About Kodifly
At Kodifly, our mission is to transform transport infrastructure management through our spatial intelligence platform. By leveraging innovative 3D perception and analytics, we make spatial data accessible and actionable, empowering the global transition to smart cities. Our platform enhances the efficiency, safety, and sustainability of transport infrastructure, driving the future of intelligent urban development.
About Laidlaw Scholars Ventures
Laidlaw Scholars Ventures (LSV) is a for-profit business investing in start-ups founded and run by Laidlaw Scholars. Backed by a $50m fund, LSV accelerates Good Businesses by financing growth, providing support services, delivering extensive training and development, and bringing a network of expert advisors and mentors. All profits from LSV will be returned to the Laidlaw Foundation to invest in its educational programmes designed to break the cycle of poverty, reduce inequality and develop a new generation of ethical leaders.
Media Contact
Niall Santamaria, Laidlaw Scholars Ventures, 44 07451 20632, hello@laidlawscholarsventures.com, https://www.laidlawscholarsventures.com
Madina Jamolova, Kodifly, madina@kodifly.com, https://kodifly.com
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SOURCE Laidlaw Scholars Ventures
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