Today, we are excited to announce we have made Fast Company’s prestigious list of the World’s Most Innovative Companies of 2024. We’re ranked in the top 10 for the most innovative robotics companies. We earned the honor based on introducing Supervised Autonomy, our proprietary blend of autonomy and long-range remote operations, for heavy construction equipment such as bulldozers, wheel loaders, and more.
We convert any make, model, and vintage of heavy equipment into autonomous and remote-operated robots. With Supervised Autonomy, we allow human operators to oversee multiple machines simultaneously by remotely performing complex tasks that the autonomous technology cannot fully handle yet.
“The construction industry is currently experiencing a growing labor shortage, and we’re helping to address that by turning their equipment into semi-autonomous machines,” said Vinay Shet, Co-founder and CEO, Teleo. “By developing a technology that moves the operator out of the cab of the machine and into a central command center, we are making these jobs safer, comfortable, and more accessible. Earning this recognition from Fast Company is confirmation that our innovative technology is truly capable of delivering on our mission to revolutionize how we build the world.”
According to Associated Builders and Contractors, the construction industry will need to attract an estimated 546,000 additional workers beyond typical hiring levels in 2023 to meet the demand for labor. Further, 41% of the construction workforce is expected to retire by 2031, according to the National Center for Construction Education & Research.
Our technology provides a host of social and economic benefits, including attracting more diverse heavy equipment operators by introducing the ability to work in a controlled, comfortable environment; increasing site productivity by enabling one operator to control multiple machines; and increasing job safety by conducting site work from a remote command center. With this combination of benefits, heavy equipment operator jobs are made more attractive, accessible and inclusive, which can help to close the labor gap. At the same time, it provides companies new ways to realize previously unattainable levels of productivity, helping them to make greater contributions to the American economy.
“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company editor-in-chief Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.”
Our top-10 ranking on Fast Company’s list of the World’s Most Innovative Companies of 2024 for robotics comes at a time of substantial growth for us. Earlier this month, we announced its expansion into the snow removal industry through a partnership with Storm Equipment. We collaborated with Storm Equipment to develop and introduce the only remote-operated and autonomous industrial snow plow commercially offered in the United States.
More information about Fast Company’s Most Innovative Companies is available online, as well as in-app form via iTunes, and on newsstands beginning March 26.
About Teleo
Teleo is revolutionizing the construction and material moving industry by retrofitting traditional heavy equipment with autonomous and remote-operated technology to create supervised autonomous machines. The Teleo Supervised Autonomy technology lets contractors operate existing heavy equipment without an operator in the cab, letting a single person control multiple pieces of equipment from a remote desk. This increases productivity, safety, and operator satisfaction—critical challenges in the construction industry. Teleo is backed by UP.Partners, F-Prime Capital, Trucks Venture Capital, K9 Ventures, YCombinator and a host of industry luminaries.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.