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