Hayden AI Secures $90 Million to Enhance Urban Mobility with Vision AI

Artificial intelligence startup Hayden AI Technologies Inc. has announced the successful closure of a substantial $90 million growth equity financing round, aimed at expanding the deployment of its advanced vision AI platform across some of the largest cities in the United States.

The latest investment round was spearheaded by TPG's The Rise Fund, with continued support from existing backers including Drawdown Fund and Autotech Ventures.

Hayden AI is emerging as a significant player in the "smart city intelligence" sector. The company offers a vision AI-powered mobile perception platform that utilizes a combination of sensors and cameras to collect geospatial data. This technology provides cities with the crucial intelligence needed to plan and manage public transportation systems effectively.

One of the key capabilities of the platform is its ability to detect and enforce parking violations that could impede public transport services or compromise road safety. Hayden AI's technological suite, which includes smart cameras, intelligent edge processing, and data analytics tools, can be mounted on any vehicle, automating tasks such as bus lane and bus stop enforcement. Additionally, it offers city planners unparalleled situational awareness and insights, enabling them to make informed decisions that align with their operational and sustainability objectives.

The platform’s functionalities extend beyond just enforcing parking and moving violations. It can also help city planners detect and forecast traffic congestion, monitor city assets, and optimize public transport networks, thereby enhancing safety and improving service quality.

Hayden AI's founder and CEO, Chris Carson, stated that the recent funding will aid the company in achieving its ambition of becoming an "urban operating system" and contributing to the livability of cities for their residents.

The startup has already made significant strides towards this goal, establishing itself as a leader in the global smart city market, which is valued at approximately $748 billion annually. Its technology has been adopted by major city transit agencies such as New York's Metropolitan Transportation Authority (MTA), Washington D.C.'s Metro, Los Angeles' Metro, and the East Bay's Alameda-Contra Costa Transit District.

According to the New York MTA, since the implementation of Hayden AI's mobile perception technology, bus speeds on enforced routes have increased by an average of 5%, and vehicle collisions have decreased by 20%. Furthermore, the MTA estimates that automated camera enforcement has led to a 5% to 10% reduction in greenhouse gas emissions from its vehicles.

Carson mentioned that part of the new funds will be used to explore additional applications for Hayden AI's platform. The company also plans to seek further partnerships with other smart city technology providers, similar to the collaboration with Verra Mobility Corp. announced today.

Hayden AI is working to integrate Verra Mobility's safety and mobility event-processing technology with its mobile perception platform to help city transportation agencies deliver safer and more reliable services to the public. The goal of this partnership is to enhance community transit value by increasing ridership rates, reducing exhaust pollution, and creating a safer environment for cyclists and pedestrians.

Steve Ellis, managing partner of TPG's The Rise Fund, expressed confidence in Hayden AI's potential. He noted that large cities are mandated to improve the operational performance and safety of their public transit systems while promoting sustainability. Ellis believes that Hayden AI's technology is capable of helping cities meet these objectives.

"Hayden AI's proprietary technology offers a solution that sits at the intersection of accessibility, safety, and sustainability and is well-aligned with The Rise Fund's pursuit of rapidly growing businesses that deliver social and environmental impact at scale," he said.