November 2024. UP.Partners led a Series A extension for the kit that lets one operator run several machines.
Teleo raised a $16.2 million Series A extension led by UP.Partners, the company announced in November 2024. TechCrunch covered the round on 21 November 2024.
One operator, several machines
Teleo retrofits construction and mining equipment such as loaders, dozers and haul trucks so it can be run remotely or semi-autonomously. One operator in a remote station can supervise several machines.
Where the money goes
Teleo said the funds will expand deployments and improve its AI. The company raised a $12 million Series A earlier. Its pitch to contractors is that they keep the machines they already own and add the autonomy on top.
Sources
Source: prnewswire.com
Source: techcrunch.com
Source: therobotreport.com
Teleo