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 Netradyne, the financial infusion will speed up the company's growth trajectory through improved go-to-market activities, 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.
The company believes that these features increase productivity, shield drivers from fraudulent claims, lower collision and insurance costs, 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.
Netradyne caters to customers in the food and beverage, oil and gas, transportation, utilities, field services, passenger transit, online retail, and construction sectors.
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. This comprises $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.
