The artificial intelligence (AI) and edge computing software company Netradyne has raised $90 million in a Series D round led by Point72 Private Investments, with Qualcomm Ventures and Pavilion Capital also participating.
According to a press release from Netradyne, the capital infusion will speed up the company’s growth trajectory through improved go-to-market initiatives, strategic R&D investment, and international expansion.
AI-powered fleet safety and video telematics solutions are offered by Netradyne, which was founded in 2015 by CEO Avneesh Agrawal and CTO David Julian. With offices in San Francisco and Bangalore, India, and its headquarters in San Diego, California, Netradyne provides services to clients in the US, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India.
Driver.i uses cutting-edge AI to recognize both safe and unsafe driving practices, fostering trust and providing useful in-cab coaching. The company claims that these features increase productivity, shield drivers from fraudulent claims, lower collision and insurance costs, encourage safer driving, and make compliance management easier.
With plans to further expand into Europe and Japan, the company reports that it currently 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 includes $195 million in July 2021, spearheaded by SoftBank Vision Fund, and $65 million in September 2022, provided by Silicon Valley Bank. Reliance Industries, led by Mukesh Ambani, was one of the company’s original investors.
