up Haydes wins backing from Allbirds’ Tim Brown, Sir Stephen Tindall, Icehouse Ventures
Auckland-based startup Hyades has raised $1.5 million to develop an AI platform that accelerates the processing of geospatial data for industries like insurance and climate science. The company is backed by notable investors including Icehouse Ventures and Sir Stephen Tindall.
Why it matters
Efficient processing of geospatial data is critical for climate risk modeling, making this technology highly relevant for global environmental and economic planning.
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From left: Hyades founders Jimin Seo, Ashin Alex and Sam Kurian. Photo / Sylvie Whinray
A trio of Auckland University graduates have raised $1.5 million for a new AI product they’re developing – following chance meetings with each other, then two of New Zealand’s best-known entrepreneurs.
Ashin Alex, Sam Kurian and Jimin Seo co-founded Hyades (named for a star constellation) to develop a system that uses AI to speed the processing of geospatial data.
The young founders say an insurance company trying to model future flood, cyclone or wildfire risk for an area might stitch together drone footage, satellite imagery, historical records and other sources.
It’s a largely manual effort and can take months to create a useful model.
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