San Francisco, CA-based Hayden AI, a company specializing in artificial intelligence and geospatial analytics, has closed a $53 million Series B funding round. The round was led by the Drawdown Fund, a growth equity firm focused on climate change solutions.

Hayden AI offers data-driven intelligence applications designed for both governments and businesses. The company says it has developed proprietary hardware that can be installed on commercial, fleet, or passenger vehicles. The technology is currently used by government agencies to enforce traffic violations impacting transit buses. The data collected is also used to optimize various operations like transit ridership, traffic efficiency, and road safety.

The new funding will be used to consolidate Hayden AI’s market position in the U.S. and also to facilitate its global expansion, according to the company.

[Image courtesy: Hayden AI]