Kodifly Secures $750k Funding to Enhance AI-Driven Safety and Operations
HONG KONG, July 8, 2024 — Kodifly, a technology firm focused on leveraging artificial intelligence (AI) for improved infrastructure management in the transportation sector, has successfully raised $750,000 in funding from Laidlaw Scholars Ventures (LSV). This new capital injection will support the company’s efforts to further develop and commercialise its innovative solutions, which utilise machine learning, LiDAR, and real-time video analytics.
Founded in 2021 by Henry Wong and Saad Shahid Anwel, both alumni of the University of Hong Kong and former Laidlaw Scholars, Kodifly aims to enhance urban mobility and infrastructure resilience through advanced spatial intelligence. Their technology combines camera inputs with LiDAR to produce digital replicas of urban environments. These replicas are then analysed by proprietary AI models to deliver actionable insights in real-time or at regular intervals.
The solutions offered by Kodifly address crucial aspects of urban transportation, including traffic management, pedestrian safety, driver assistance and environmental monitoring. Their AI-driven platform can handle input data from both fixed and mobile sources, making it highly adaptable for various applications. The insights derived are valuable to a wide array of stakeholders, such as rail operators, transport managers, and city planners.
“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,” said Henry Wong, co-founder and CEO of Kodifly. “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.”
This funding round represents the first instance of Kodifly receiving external investment. The company intends to use the funds to expand beyond its foundational work in the railway sector, branching into airport and highway management. Kodifly already has contracts secured within these sectors in Hong Kong, and the team is eyeing growth in markets across Southeast Asia, the United Kingdom, and the United States.
Niall Santamaria, Chief Investment Officer of Laidlaw Scholars Ventures, stated, “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.”
Laidlaw Scholars Ventures is known for investing in start-ups led by Laidlaw Scholars through a $50 million fund. The organisation aims to foster growth, provide extensive training and development, and offer a network of advisors and mentors. Profits from LSV are reinvested into the Laidlaw Foundation, aiding educational programmes that aim to reduce inequality and develop a new generation of ethical leaders.
With this significant investment, Kodifly is anticipated to make strides in improving urban infrastructure and safety through its cutting-edge use of AI and spatial intelligence. The company's next steps will likely shape how modern cities manage and optimise their transportation networks, positioning them at the forefront of smart city development.