Hayden AI raises $53M

San Francisco, CA-based Hayden AI, a company specializing in artificial intelligence and geospatial analytics, has closed a $53 million Series B funding round. The round was led by the Drawdown Fund, a growth equity firm focused on climate change solutions.

Hayden AI offers data-driven intelligence applications designed for both governments and businesses. The company says it has developed proprietary hardware that can be installed on commercial, fleet, or passenger vehicles. The technology is currently used by government agencies to enforce traffic violations impacting transit buses. The data collected is also used to optimize various operations like transit ridership, traffic efficiency, and road safety.

The new funding will be used to consolidate Hayden AI’s market position in the U.S. and also to facilitate its global expansion, according to the company.

[Image courtesy: Hayden AI]

Just in

Best Buy to implement generative AI working with Accenture, Google

Best Buy, in collaboration with Google Cloud and Accenture, has announced plans to deploy generative AI (gen AI) to enhance customer support services and assist employees.  

Intel introduces Gaudi 3 AI accelerator: Going bigger and aiming higher in AI market — AnandTech

The latest iteration of Gaudi will be launching in the third quarter of 2024, and Intel is already shipping samples to customers now, writes Ryan Smith.

Google unveils custom Arm-based chips, following similar efforts at rivals Amazon and Microsoft — CNBC

Google is launching a custom-built Arm-based server chip that will become available later in 2024, according to the report.