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Kodifly has raised US$750.000 from Laidlaw Scholars Ventures

06:31:06 | 10 Jul 2024
Kodifly has raised US$750.000 from Laidlaw Scholars Ventures
HONG KONG (IndoTelko) - Kodifly, a technology company using AI to support infrastructure management and increased safety in the transportation sector announced a US$750.000 investment from Laidlaw Scholars Ventures.

This funding will support Kodifly's productization of its solutions, which use machine learning to create digital twins of environments using LiDAR and real-time video analytics within urban environments.

Kodifly, founded in 2021 by Henry Wong and Muhammad 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 and overseas expansion, with existing contracts secured within Hong Kong. Their sales pipeline includes numerous operators of transportation infrastructure across Southeast Asia, the UK and the US, and they anticipate their market-leading digital-twin 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, productize 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."(es)

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