By: Teleo
Teleo has raised $16.2 million in Series A extension funds in addition to the company’s previously announced Series A funding round. The company will primarily use the funds to scale customer deployments and continue its expansion in new industries that use heavy machinery, such as wheel loaders, terminal tractors, and excavators.
Teleo will also use the funds to enhance its AI capabilities, including advancing autonomous features; integrating large language models (LLMs) to further unlock operator efficiency; and collecting real-world data to continue training AI models.
Teleo converts any make, model, and vintage of heavy equipment, such as bulldozers, wheel loaders, and excavators, into autonomous and remote-operated robots. The combination of remote and autonomous operations, called Supervised Autonomy, allows one operator to supervise multiple autonomous machines working simultaneously by enabling the operator to remotely perform complex tasks as needed.
Teleo recently announced it received new orders for 34 machines from a total of nine new customers from new and existing industries. The company secured customers in the pulp and paper; logging; port logistics; munition clearing; and agriculture industries.
“There is a strong value proposition of our technology across many industries that leverage heavy machinery and our focus is to fulfill and scale our solid pipeline of orders,” said Vinay Shet, Co-founder and CEO, Teleo, in a statement. “There’s a wider, untapped range of industries where Teleo Supervised Autonomy can provide instant value. We will use these funds to further deploy and scale our technology so we can continue to address historic labor shortages and deliver a positive impact.”
Teleo’s global dealer partner network, which was launched in 2023, includes dealer partners in the United States, Canada, Europe, Australia, North Africa, and the Middle East.
