SAN FRANCISCO, July 10, 2024–(BUSINESS WIRE)–Hayden AI Technologies, Inc. (“Hayden AI”), a leader in vision AI solutions for smart cities, today announced $90 million in new growth equity financing. The Series C round was led by The Rise Fund, a multi-sector strategy of TPG’s global impact investing platform, and backed by existing investors including Drawdown Fund and Autotech Ventures. The investment will accelerate the company’s research, development and growth.
The funding comes as Hayden AI expands its market leadership and customer base domestically and internationally in the $748 billion smart cities market. Leveraging its geospatial data collection sensor systems, Hayden AI’s Vision AI platform delivers comprehensive smart city intelligence and is trusted by some of the largest cities and transit agencies in the U.S., including New York’s MTA, Washington DC Subway, Los Angeles Metro and AC Transit in the East Bay, to detect and enforce parking and traffic violations that impede public transportation and roadway safety. Hayden AI’s platform can be installed in virtually any type of vehicle, providing a level of insight and situational awareness that cities can use to make better decisions to achieve both operational and sustainability goals.
Rise Funds invests in companies that drive environmental and social impact while also generating strong business returns. Hayden AI’s vision AI platform can enforce parking and traffic violations, as well as detect and predict traffic congestion, monitor city assets, and optimize transportation networks to help cities improve public safety, sustainability, and efficiency.
“The Rise Fund’s work will enable us to develop our platform into a true city operating system, crunching data and generating actionable insights to make cities more livable for everyone,” said Chris Carson, founder and CEO of Hayden AI. “This new funding allows us to invest in long-term technology development and explore new uses for our platform. TPG’s The Rise Fund has a long track record of successfully scaling social impact companies across the technology and climate sectors, and we are excited to partner with them to continue helping cities transform sustainability, road safety and accessibility.”
“Large cities have a dual mission: to improve the operational performance and safety of their public transportation systems while also improving their energy efficiency,” said Steve Ellis, Managing Partner at The Rise Fund. “Hayden AI’s proprietary technology offers solutions that sit at the intersection of accessibility, safety and sustainability, which aligns well with The Rise Fund’s goal of building fast-growing businesses that deliver large-scale social and environmental impact. Leveraging Hayden AI’s industry-leading precision and adaptability, we look forward to building on our success in America’s largest city and expanding the technology to additional use cases and new cities both domestically and internationally.”
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In New York City, automated camera enforcement has increased bus speeds on targeted routes by 5% and reduced vehicle crashes by 20%. Additionally, the MTA estimates that automated camera enforcement has reduced greenhouse gas emissions by 5% to 10%. The MTA recently announced it will expand the program to include bus stop and double-parking enforcement.
Hayden AI’s technology not only makes cities safer and more efficient, it has also earned the company acclaim, including being named to the GovTech100 list four years in a row and being recognized by TIME magazine as one of America’s Top Green Tech Companies for 2024.
About Hayden AI: Hayden AI is using AI to transform how cities use infrastructure. Our market-leading Vision AI platform leverages geospatial data collection sensor systems to create a city operating system, providing cities with actionable insights and situational awareness to improve sustainability, road safety and accessibility. Cities around the world are using Hayden AI’s platform to make urban life more livable for everyone. To learn more, visit www.hayden.ai.
About The Rise Funds: The Rise Funds are a core part of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invests in impact entrepreneurs and growth-stage, high-potential, mission-driven companies focused on achieving the United Nations Sustainable Development Goals. Rise Funds brings capacity and expertise at scale across sectors and countries, focusing on opportunities in climate and conservation, education, food and agriculture, financial inclusion, healthcare and impact services.
With approximately $19 billion in assets across The Rise Funds, TPG Rise Climate and Evercare Health Fund, the TPG Rise platform is one of the world’s largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes along with competitive financial returns.
For more information, visit therisefund.com.
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