Teleo Raises $16.2 Million in Series A Extension Funds Led by UP.Partners
Summary
In addition to significant productivity gains, Teleo creates a positive effect on the workforce, where skilled labor shortages are endemic to the industry," said Adam Grosser, Chairman and Managing Partner at UP.Partners. "Teleos retrofit technology helps to make equipment operator jobs more accessible and safer, in addition to improving customer profitability by reviving machines that were otherwise sitting idle. "Teleos technology has created a groundswell of support and excitement with its customers, distributors, and across the industries it serves," said Sanjay Aggarwal, Venture Partner, F-Prime Capital. "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 , Co-founder and CEO, Teleo. The company also demonstrated the worlds longest supervised autonomous operation in history, when operators in Dallas controlled machines at a worksite in Finland, over 5,000 miles away.About TeleoTeleo is revolutionizing construction and material moving industries by turning traditional heavy equipmentsuch as articulated dump trucks, wheel loaders, terminal tractors, excavators, and moreinto supervised autonomous machines.
Funding
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