London-based AI startup Fyld has raised £32m in a Series B funding round, as it looks to expand its frontline worker safety and compliance platform across the US.
Founded in 2020 as a spinout from consulting giant BCG, Fyld aims to tackle safety and productivity challenges in high-risk fieldwork, for example highway repair jobs or those on building sites, helping keep workers safe and projects on track.
The round was led by New York-headquartered Energy Impact Partners (EIP) with participation from Partech’s Growth Impact Fund.
Using Fyld's phone app, workers can analyse sites in real-time, flagging potential safety and quality risks before they become a problem. Managers are given live oversight across sites without increasing headcount. The company says clients with workforces of up to 40k field staff are now using the system, with some seeing worksite injuries cut by close to 50%.
“We invest in impact-native category champions with the ambition and maturity to scale,” says Rémi Said, general partner at Partech.
“Fyld is tackling large-scale infrastructure projects, a category that has been underserved by technology for decades. Its strong ROI for customers, AI-powered product and robust go-to-market engine give us confidence that Fyld can emerge as a global leader.”
The company has recently added US customers including Kiewit Corporation, Quanta Services, Emery Sapp & Sons and Sulzer, alongside longstanding partner Ferrovial.
Sifted recently reported how Fyld cofounder and chief futurist Karl Simons attended a behind-closed-doors meeting of AI startups in Westminster, where he and others urged the UK government to deliver on the promises of the country's wide-ranging AI action plan.
More than 40% of revenue is expected to come from the US by the end of 2026, as data centre construction and energy infrastructure projects drive demand.
