Highlights
Netradyne Secures $90 Million in Series D Funding
Netradyne, a SaaS company specialising in artificial intelligence (AI) and edge computing, has successfully completed a Series D funding round, raising $90 million. This round was led by Point72 Private Investments, with additional contributions from Qualcomm Ventures and Pavilion Capital.
This financial boost will expedite the company’s growth through targeted investments in research and development (R&D), improved go-to-market strategies, and global expansion, as stated in their press release.
About Netradyne
Established in 2015 by Avneesh Agrawal, the CEO, and David Julian, the CTO, Netradyne delivers AI-driven fleet safety and video telematics solutions. The company is headquartered in San Diego, California, with additional offices located in San Francisco and Bengaluru, India. Netradyne’s clientele spans the United States, Canada, Mexico, Germany, the United Kingdom, Australia, New Zealand, and India.
Innovative Solutions
Netradyne’s platform, Driver.i, employs cutting-edge AI to assess both positive and negative driving behaviours, fostering trust and effective in-cab coaching. The firm claims that these capabilities lead to:
- Safer driving practices
- Protection for drivers against false claims
- Reduction in collisions and insurance expenditures
- Increased productivity
- Simplified compliance management
Customer Base and Future Plans
The company serves over 3,000 clients and boasts more than 450,000 active subscribers across the United States, Canada, Mexico, Germany, the United Kingdom, Australia, New Zealand, and India, with aspirations to expand further into Europe and Japan.
Netradyne’s offerings cater to various sectors, including:
- Online retail
- Food and beverage
- Oil and gas
- Transportation
- Utilities
- Field services
- Passenger transit
- Construction
Funding History
The firm has raised over $350 million in total funding to date. This includes a notable $65 million round in September 2022 from Silicon Valley Bank and a $195 million investment in July 2021 led by SoftBank Vision Fund. Among its early supporters is Reliance Industries, helmed by Mukesh Ambani.