Teleo Secures $16M to Expand Remote-Control Tech for Heavy Equipment
Teleo’s Supervised Autonomy Technology allows contractors to retrofit heavy equipment for remote operation.
machineryasia 
Teleo, a manufacturer of heavy-equipment retrofit autonomy kits, has secured just over $16 million in its second Series A round of funding, bringing its total fundraising since its founding in 2019 to almost $30 million. This second round included several return investors from Teleo’s 2022 funding round.
The company says this money will go toward increasing deployments, enhancing its use of artificial intelligence and expanding its technology to other machine platforms, including wheel loaders and excavators.
Teleo’s Supervised Autonomy Technology allows contractors to retrofit heavy equipment for remote operation and control multiple machines from a remote-control station. John Deere dealer RDO Equipment signed on as a Teleo dealer in 2022.
On October 1, Teleo announced that it had received 34 new orders for machines and nine new customers, including from the port logistics and agriculture industries. The company plans to break into other new markets including airports and warehousing.
Additional recent orders have also expanded the company’s presence in the construction and snow removal markets.
"Our strong conviction in Teleo's solution comes from the incredible impact their technology for remote and autonomous operations of heavy machinery is having for some of the largest operators in the world. 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, a return investor. "Teleo's 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."
For more information on Teleo, check out this episode of The Dirt featuring an interview with Teleo’s Co-Founder and CEO Vinay Shet:
