Kodifly Raises $750k from Laidlaw Scholars Ventures to Advance AI-driven Safety and Operations

(Hong Kon, 10 July 2024) – Kodifly, a member of the Hong Kong Science & Technology Parks Incubation Programme and a technology company using AI to support infrastructure management and increased safety in the Transportation sector announced today a $750K investment from Laidlaw Scholars Ventures (LSV). This funding will support Kodifly’s productisation of its solutions, which use machine learning to create digital replicas of environments using LiDAR and real-time video analytics within urban environments.

Kodifly, founded in 2021 by Henry Wong and Saad Shahid Anwel, both former Laidlaw Scholars at The University of Hong Kong, focuses on leveraging a combination of camera, and LiDAR and uses its proprietary AI models to improve urban mobility and infrastructure resilience. Their products include solutions for traffic management, pedestrian safety, driver aids and environmental monitoring, enabling any combination of fixed and mobile input data, and real-time or periodic analysis, to deliver actionable insights for rail operators, transport managers and city planners.

This is the first funding round that the business has taken from external investors, and the team are keen to use these funds to transition the business from its core expertise within the railway sector into both Airport and Highway Management, with existing contracts in both sectors secured within Hong Kong. Their pipeline includes numerous operators of transportation infrastructure across Southeast Asia, the UK and the US, and they anticipate their market-leading platform being rapidly adopted.

Henry Wong, co-founder and CEO of Kodifly, expressed his enthusiasm: “This investment from Laidlaw Scholars Ventures is a significant milestone for Kodifly. It will enable us to develop our AI technologies further, productise our offering and expand our market presence, ultimately helping operators deliver efficiency in their infrastructure management to enhance safety and reduce maintenance costs, by transitioning to smart city technology using 3D perception and analytics.”

Niall Santamaria, Chief Investment Officer of LSV, said, “Henry and Saad are exceptional entrepreneurs who were early to identify the opportunities and potential of spatial data. The models they are building have the potential to automate the detection and analysis of any anomaly, and while their success in the Transportation sector is evident, the data they are interpreting has far broader applications, with vast opportunity.”

Derek Chim, Head of Incubation and Acceleration Programmes at Hong Kong Science and Technology Parks Corporation, said, "We were impressed by Kodifly's team and their remarkable progress. The successful fundraising is a testament to their groundbreaking AI-driven technology for infrastructure management and safety in the Transportation sector. With machine learning, LiDAR, and real-time video analytics, Kodifly is creating digital replicas of urban environments. As a finalist of Elevator Pitch 2024, Kodifly is poised for even greater achievements. We wish you continued success on this remarkable journey!”

Photo 1: Henry Wong, co-founder and CEO of Kodifly (first from right); Niall Santamaria, Chief Investment Officer of Laidlaw Scholars Ventures (first from left) and their team are joining hands to enhance infrastructure management through advanced spatial intelligence.