SUMMARY
- Funds to enhance R&D, global expansion, and go-to-market strategies.
- AI-driven Driver.i platform promotes safety, reduces costs, and boosts driver productivity.
- Serves 3,000+ customers globally across industries; raised $350M total since inception.
The artificial intelligence (AI) and edge computing software company Netradyne has secured $90 million in a Series D round led by Point72 Private Investments, with Qualcomm Ventures and Pavilion Capital also participating.
According to a news release from the business, the fresh capital will speed up the company’s growth trajectory through improved go-to-market strategies, strategic R&D investment, and international expansion.
Netradyne, founded in 2015 by CTO David Julian and CEO Avneesh Agrawal, offers video telematics and fleet safety solutions driven by AI. With its headquarters located in San Diego, California, and offices in Bangalore, India and San Francisco, Netradyne provides services to clients in the US, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India.
In order to promote trust and efficient in-cab teaching, Driver.i uses sophisticated AI to recognize both positive and negative driving habits. The company argues that these features increase productivity, minimize collisions and insurance costs, shield drivers from fraudulent claims, encourage safer driving, and make compliance monitoring easier.
With intentions to further grow into Europe and Japan, the company reports that it already serves over 3,000 customers and has over 450,000 active subscribers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India.Customers in the food and beverage, oil and gas, transportation, utilities, field services, passenger transit, online retail, and construction sectors are served by Netradyne.
To date, the San Diego and Bengaluru-based company has raised over $350 million. This comprises $195 million in July 2021, spearheaded by SoftBank Vision Fund, and $65 million in September 2022, provided by Silicon Valley Bank.
