Teleo, a Palo Alto, CA-based construction robotics company, raised $12M in Series A funding.
The round was led by UP.Partners, F-Prime Capital, K9 Ventures and YCombinatol.
The company intends to use the funds to scale the deployment of their product and further invest in R&D focused on its Supervised Autonomy technology.
Led by CEO Vinay Shet, Teleo offers equipment operations by turning construction and mining equipment into semi-autonomous robots. The Teleo Supervised Autonomy technology lets contractors operate existing heavy equipment without an operator in the cab, letting a single operator control multiple pieces of equipment from a remote desk.
Teleo’s path to reaching customers includes multiple distribution channels including partnering with heavy equipment distributors. Along with the Series A funding, the company is officially partnering with RDO Equipment Co., a construction equipment and technology supplier and one of John Deere’s largest dealerships.
FinSMEs
09/06/2022