Sequoia Capital India contributed $8.5 million to the Series A round of funding for LightMetrics, a video telematics startup that serves fleets of commercial vehicles worldwide.
In order to lay the groundwork for future growth, LightMetrics will concentrate on fortifying a number of teams with the money raised. Included in this are engineering, customer success, product, marketing, sales, and analytics. In order to improve its offerings and give fleets more value across all of its operations, the company said it will continue to invest in AI technologies, new products, and solutions. Additionally, the money raised will be used to investigate related business opportunities, like auto insurance.
LightMetrics, a company that offers an easy-to-integrate video telematics platform that enables fleets to gain visibility into several risky driving behaviors based on real-time analysis of road and driver-facing cameras, was founded in 2015 by Soumik Ukil, Ravi Shenoy, Mithun Uliyar, Gururaj Putraya, Pushkar Patwardhan, and Krishna A.G.
Their solution makes use of cutting-edge AI to analyze video feeds from the in-car cameras and better understand driver behavior in order to decrease accidents and increase safety.
According to LightMetrics, more than 2500 fleets have been deployed in the Middle East, India, the United States, Canada, Mexico, Brazil, Australia, and South Africa.
