Curious about how autonomous vehicles (AV) emerged? Wondering about the hype that surrounded the AV industry? Or interested in the current state of the AV market? For insights, Bibhrajit Halder, co-founder and CEO of SafeAI (Milpitas, Calif.), is the person to ask.
Halder's career mirrors the journey of AV development. He became fascinated by autonomy in 2004 as a PhD student at Vanderbilt University during the first DARPA Grand Challenge. His passion for AV technology led him to roles at prominent companies like Caterpillar, Ford Motors, Faraday Future, and Apple. In 2018, Halder founded SafeAI, a startup focused on retrofitting mining trucks with autonomous technology.
While mining may not seem like a glamorous market for AVs, Halder points out that the heavy equipment sector, including mining and construction, has been a leader in deploying autonomous features commercially for over a decade. For AV software developers eager to see their code in action, the mining industry offers real-world applications beyond test vehicles.
Why the Mining Industry?
Halder's first major role after graduation was at Caterpillar, where he designed autonomous mining vehicles, growing the company's AV fleet from zero to 40 trucks over seven years. Komatsu, a key competitor, achieved similar output. Mining, with an annual revenue of $700 billion, is a significant industry. Reports indicate that leading mining companies are increasingly investing in automation to boost safety and efficiency, critical for maintaining competitiveness.
Autonomous technology allows mining companies to operate vehicles continuously in hazardous environments, improving both productivity and safety. According to Halder, retrofitting existing mining trucks with sensors and software transforms them into autonomous machines. SafeAI's business model involves licensing this technology and generating recurring revenue from mining companies.
SafeAI's Market Position
SafeAI has attracted significant investment, including a $5 million funding round led by Autotech Ventures. The company competes in a market dominated by Caterpillar and Komatsu, which not only supply equipment but also aim to control mining data. Halder emphasizes that mining companies should own their data, which is another reason they might choose SafeAI over traditional manufacturers.
In summary, autonomous mining equipment is becoming essential for the industry, driven by the need for enhanced safety, efficiency, and data ownership. SafeAI's innovative approach positions it as a key player in this transformative market.
