FYLD secures £12M funding for AI-powered field management platform
Summary
Critical infrastructure companies in Europe, North America, and South Americafrom utilities to heavy civil construction and highway maintenanceuse FYLD to drive operational efficiency and reduce safety incidents with data.Using natural language processing, computer vision and AI, FYLD analyses what is taking place in the field in real-time, helping managers and operational teams make better decisions and drive more jobs to completion.FYLD was launched by Koru, a venture studio created by Ontario Teachers to help create and launch new digital companies. FYLD initially collaborated with SGN, a UK gas utility in Ontario Teachers infrastructure and natural resources portfolio, to test and validate its technology. 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. "Against a backdrop of labour shortages, inflationary pressures eating into tight margins, and regulatory uncertainty, the infrastructure sector has to embrace digital technologies to increase efficiency and profitability. "FYLD will use this new capital to scale its commercial team, accelerate product development, enhance its AI-driven predictive analytics platform, and expand into new markets globally.