Hayden AI, a prominent player in artificial intelligence and geospatial analytics, has announced the successful closure of its oversubscribed $53 million Series B funding round. The round was led by the Drawdown Fund, a growth equity firm committed to supporting companies and products that tackle significant contributors to climate change.
Hayden AI’s platform offers data-driven intelligence applications that assist governments and businesses in solving real-world challenges. The company’s proprietary hardware, adaptable to various commercial, fleet, or passenger vehicles, enables government agencies to enforce traffic violations obstructing transit buses. Moreover, it captures valuable data used to enhance operational efficiency, resulting in increased transit ridership, improved traffic flow, heightened road safety, and the creation of more accessible and sustainable communities.
Chris Carson, CEO, and founder of Hayden AI expressed his enthusiasm, stating, “This oversubscribed Series B is a strong validation of Hayden AI’s market fit, technology, and team. Our mission is to revolutionize the way cities around the world deliver safer, smarter, and more sustainable mobility and public services. The data, analytics, and insights from our AI/ML powered platform allow us to deploy complex learning models that deliver a range of use cases from traffic enforcement to dynamic digital city/digital twin development.”
Erik Snyder, Managing Director of the Drawdown Fund, highlighted the significance of Hayden AI’s mission, stating, “Sustainable mobility is one of the greatest challenges facing the world today. Hayden AI’s mission and technology align perfectly with our investment philosophy. We’re thrilled to lead this funding round.”
With this substantial funding, Hayden AI intends to consolidate its position as a market leader domestically and embark on global expansion initiatives. This infusion of capital will further empower the company in its mission to reshape the landscape of mobility, making it safer, more efficient, and environmentally sustainable.