Austin/Tartu – October 2022: EyeVi Technologies, the European leader in geospatial AI-powered digital data generation, today announced the opening of its US headquarters in Austin, Texas. By opening its headquarters in the United States, EyeVi continues its mission to bring road infrastructure maintenance into the modern era.
EyeVi’s new commercial and operations headquarters will be located in Texas’ largest startup accelerator and co-working firm, Capital Factory, while the company’s development hub will remain in Estonia. EyeVi’s arrival in the US was celebrated at an event hosted by Capital Factory on September 23, 2022. Estonian President Alakalis, Texas Congressman Lloyd Doggett, and several provincial city officials and business leaders were in attendance, emphasizing the importance of international cooperation in modernization. Build road networks and infrastructure in a sustainable and cost-effective manner.
“EyeVi is uniquely niche, using artificial intelligence to analyze roads with great accuracy and predict areas that need most urgent maintenance. We can minimize the cost of road maintenance,” said Estonian President Aral Kalis. “This is a great example of how technology can reduce our ecological footprint and lead us to a more sustainable future.”
Each year, the United States spends billions of dollars maintaining its road network. But the backlog of road maintenance is piling up. Technology-driven solutions like EyeVi will play a key role in upgrading aging infrastructure in the world’s largest economy after passing his long-anticipated $1 trillion infrastructure bill. The White House estimates that Texas alone will receive about $35.44 billion over five years to upgrade roads, bridges, pipes, ports and more.
“I was very impressed with EyeVi and what they were able to offer when they put more than $30 billion into transportation in Texas through the infrastructure bill passed a year ago, and I believe that the funding is available. We hope it will be used for as long as possible.. In a state this large, identifying defects in our road system and maintenance before they occur is very important to us.
By streamlining and automating mapping and geospatial data processing using artificial intelligence, EyeVi provides a flexible and cost-effective solution for road survey companies and government agencies to solve road maintenance problems. help to derive better insight into EyeVi costs an average of 50% less than traditional road survey systems in use today. Most of them are outdated or prohibitively expensive.
EyeVi arrives in Austin in a seed round led by ff Venture Capital, with participation from RKKVC, Decacorn Capital, Iron Wolf Capital, Superangel, Spring Capital, Kaamos Group, and several Estonian business angels. Just after raising $2 million. Including his Väino Kaldoja, the founder of AuveTech, and his Taavi Rõivas, former Prime Minister of Estonia.
“Expanding EyeVi’s presence into North America is another important step in accelerating our growth and will allow us to expand our platform.” said Gaspar Anton, CEO of EyeVi. said like this.
In the first half of 2022, the company also joined DOT Studio, a partnership between the New York City Department of Transportation (NYC DOT) and Newlab, to test advanced technology solutions in its electric vehicle focus area. Analysis of charging and pavement markings in New York City.
EyeVi was founded in Estonia in 2020 by Gaspar Anton and a group of data scientists, engineers and geospatial mapping industry veterans. EyeVi provides on-demand mapping technology for rapidly capturing and processing high-precision geographic data in a cost-effective manner. The company’s customers range from road maintenance vendors to national governments to start-ups working in the emerging autonomous vehicle industry. To date, the company has raised over €4 million of his in grants and equity investments, and operates in the US, Baltics, Nordics and the UK.