Australia-based Pitcrew AI’s goal of providing real-time, automated inspection and condition monitoring solutions to the the heavy vehicle fleet sector has been given a boost with an investment from the leading growth capital provider for mining innovation, RCF Jolimont Mining Innovation Fund II-A L.P. (RCF Jolimont).
This significant Series A funding marks a pivotal step for Pitcrew AI, empowering its product development, team expansion and overall growth, the company said.
Pitcrew AI’s technology is, the company says, now widely embraced across diverse heavy vehicle fleets. As the industry shifts towards autonomous and remote vehicle operation, eliminating the possibility of traditional driver-based issue detection, the technology’s importance becomes increasingly critical. This trend of automation is rapidly expanding beyond the mining industry, with significant potential applications in highway haulage, rail, construction machinery, and even passenger transportation sectors.
The company’s solution combines computer vision, thermal imaging technology and advanced AI techniques to enable real-time detection of tyre damage and vehicle problems. This cutting-edge approach enhances safety, minimises operational disruptions, and aligns with eco-friendly mining practices by reducing premature tyre scrapping and its associated environmental impact.
RCF Jolimont’s VP Australasia, Andrew Jessett, has been appointed as a director on the Pitcrew AI Board. He said: “RCF Jolimont seeks to support and build innovative businesses that are transforming mining. Pitcrew AI’s automated inspection solutions perfectly align with our mission. We’re excited to contribute to their expansion globally and witness their positive environmental and economic impact in the mining sector and beyond.
“Pitcrew AI team’s deep technical expertise in AI and mine operations, coupled with their commitment to forward-thinking and innovative solutions, makes them an exceptional business who are poised for rapid growth. Equally important, by maximising tyre life, Pitcrew AI’s technology has potential to deliver meaningful reductions in emissions in Australia and globally.”
Pitcrew AI Founder and CEO, Tim Snell, said: “We are incredibly grateful for the investment and partnership with RCF Jolimont, and we are thrilled to have Andrew join our Board of Directors.
“When we created our solution, we solved many tyre management issues encountered by mine sites. We have received fantastic support from all our customers and our partners in Australia and North America over the past few years. “This funding allows us to accelerate our mission to enable safer and more sustainable transport and better support our customers and partners during our expansion.”
The Series A financing round was led by RCF Jolimont and rounded out by follow-on investment from the active early-stage fund, Startmate, who were the first investors in the company 12 months ago.