Austin/Tartu – October 2022: EyeVi Technologies, a leader in geospatial AI-powered digital data production in Europe, has today announced the opening of its US headquarters in Austin, Texas. By opening its headquarters in the US, EyeVi continues in its mission to bring road infrastructure maintenance into the modern era.
EyeVi’s new commercial and operations headquarters will be located in Capital Factory, the largest startup accelerator and coworking company in Texas, while the company’s development hub will remain in Estonia. EyeVi’s arrival in the US was celebrated in an event hosted by Capital Factory on September 23rd, 2022. Estonian President Alar Karis, Texas Congressman Lloyd Doggett, and several local city officials and business leaders were in attendance to emphasize the importance of international cooperation in modernizing road networks and infrastructure in a sustainable, cost-efficient way.
“EyeVi has specialized in a unique area, to analyze roads with artificial intelligence with very high precision and predict the areas which need the most urgent maintenance. By doing so, maintenance companies can minimize the costs of road maintenance,” said The President of Estonia, Alar Karis. “This is a good example of the ways technology can lower our ecological footprint and lead us towards a more sustainable future.”
Every year, the US spends billions to maintain road networks. However, a backlog of road maintenance is piling up. Technology-driven solutions like EyeVi will play a crucial role in upgrading the aging infrastructure in the world’s largest economy after passing the long-anticipated $1 trillion infrastructure bill. The White House estimates that the state of Texas alone will receive about $35.44 billion over five years to upgrade roads, bridges, pipes, ports, and more.
“I am very impressed by EyeVi and what the company might offer at a time when we’ve put over $30 billion into transportation in Texas through the infrastructure bill we passed a year ago, and we want to see that money go as far as possible. In a state this big, our roadway system and identifying maintenance defects before they occur is really important to us,” said Texas Congressman Lloyd Doggett.
Using artificial intelligence to streamline and automate mapping and geospatial data processing, EyeVi provides a flexible and cost-effective solution that helps road surveying companies and government organizations unlock better insights to solve road maintenance issues. EyeVi cuts costs by 50% on average over conventional road surveying systems used today, most of which are either outdated or prohibitively expensive.
EyeVi’s arrival in Austin comes shortly after the company raised $2 million in a seed round of funding led by ff Venture Capital, with the participation of RKKVC, Decacorn Capital, Iron Wolf Capital, Superangel, Spring Capital, Kaamos Group, and several Estonian business angels including Väino Kaldoja, the founder of AuveTech, and Taavi Rõivas, the former prime minister of Estonia.
“Expanding EyeVi’s presence to North America is another important step in accelerating our growth and will allow us to bring our platform to scale. We are very excited to start offering US companies our road network intelligence solutions,” said Gaspar Anton, CEO of EyeVi.
In the first half of 2022, the company also participated in the DOT Studio, a partnership between the New York City Department of Transportation (NYC DOT) and Newlab, where it was able to test its advanced technology solutions across the focus areas of electric vehicle charging and pavement marking analysis in New York City.
EyeVi was founded in 2020 in Estonia by Gaspar Anton and a group of data scientists, engineers, and geospatial mapping industry veterans. EyeVi offers an on-demand mapping technology for capturing and processing high-accuracy geodata cost-effectively and fast. Its customers range from road maintenance vendors to national governments to startups working in the emerging autonomous vehicle industry. To date, the company has raised over €4 million in grants and equity investments, and has operations in the US, Baltics, the Nordics, and the UK.