Invest with Monta Vista Capital Syndicate 1
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Note from Monta Vista Capital Syndicate 1
Monta Vista Capital is a Valley based VC fund that is typically the first institutional investor in a seed stage startup. A portfolio company, SafeAI is raising Series A round of $20m at $40m pre money valuation. Our pro rata investment rights are for $1.4m. SafeAI retrofits large vehicles used in mining and construction industries for autonomous driving. It had revenues of $1m last year and expects $3m this year mostly for POC on mining and construction vehicles. Successful completion of the mining POC will lead to a contract for 8 mining vehicles for $150k per vehicle per year. There are 80,000 such mining vehicles currently deployed in mines throughout the world. The competition is Caterpillar and Komatsu providing such capabilities to their own new vehicles.