UK

[Funding alert] UK-based FYLD Secures £12 Million in Funding

Apr 20, 2024 | By Startup Rise EU

UK-based AI-powered field world management platform FYLD secures £12 million in funding. Critical infrastructure businesses in Europe, North America, and South America use FYLD to improve operational efficiency and lower safety occurrences using data, from utilities to heavy civil construction and highway maintenance.

UK-based AI-powered field world management platform FYLD secures £12 million in funding. Critical infrastructure businesses in Europe, North America, and South America use FYLD to improve operational efficiency and lower safety occurrences using data, from utilities to heavy civil construction and highway maintenance.

By utilising computer vision, artificial intelligence, and natural language processing, FYLD examines field data in real-time to assist managers and operational teams in making better decisions and completing more tasks.

Read also - Poland-based bValue Secures €90Million in Funding

Koru, a venture studio established by Ontario Teachers to assist in the development and introduction of innovative digital businesses, introduced FYLD. In order to test and evaluate its technology, it first worked with SGN, a UK gas utility included in Ontario Teachers' infrastructure and natural resources portfolio. The collaboration immediately increased SGN's production and resulted in a significant decrease in workplace accidents and injuries.

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Shelley Copsey, CEO & Co-Founder at FYLD said, "Software currently deployed into field workforces in the infrastructure sector remains unfit for purpose, At FYLD, our platform is designed to enable each fieldworker to be more productive every day and know that they will go home safely. Through real-time, AI-powered data analytics, we reduce standing time, enable remote management to understand where they should focus their attention, and analyse site risk to stop incidents in their tracks. Our typical customers achieve over 8 per cent productivity uplift in just six weeks. With this short time to value, we are feeling market pull for our solution and buy-in on our vision of the future of fieldwork."

With the help of this additional funding, it plans to grow its commercial staff, quicken the pace of product development, improve its AI-powered predictive analytics platform, and enter new international markets.

About FYLD

FYLD is based on a straightforward set of principles. When combined, they enable our team to provide customers with solutions that are truly revolutionary. With portfolios and occupations that include BCG Consulting, BCG Digital Ventures, Shazam, Deutsche Telekom, Ticketmaster, and PwC, to mention a few, our team has a depth of knowledge in disruptive technologies.

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