Teleo, a Palo Alto, CA-based company building autonomous technology for heavy equipment, raised $16.2M in Series A funding.
The round consisted of:
- a first extension, totaling $9.2M, led by UP.Partners, with participation from other investors, including new investor Trousdale Ventures and return investor F-Prime Capital, among others.
- a second extension, totaling $7M, also led by UP.Partners, with participation from new investor Triatomic Capital, as well as returning investors F-Prime Capital and Trucks Venture Capital, among others.
The company intends to use the funds to scale customer deployments and continue its expansion in new industries that use heavy machinery, such as wheel loaders, terminal tractors, excavators, to enhance its AI capabilities, including advancing autonomous features, integrating large language models (LLMs), and collecting real-world data to continue training AI models.
Led by CEO Vinay Shet, Teleo is improving construction and material moving industries by turning traditional heavy equipment, such as articulated dump trucks, wheel loaders, terminal tractors, excavators, and more, into supervised autonomous machines.
Teleo Supervised Autonomy allows one operator to oversee multiple machines operating simultaneously from a remote and comfortable command center. These machines can be any brand or equipment type and serve a broad range of industries anywhere in the world. Equipping machines with its technology multiplies productivity and increases operator safety and satisfaction, which are critical challenges for many industries.
