AI-backed fleet safety and video telematics startup Netradyne has raised $90 million in its latest Series D round of funding led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital. The fresh capital will be deployed towards strategic investment in research and development, enhanced go-to-market investments, and global expansion.
Founded in 2015, the startup offerings revolve around enhancing driver safety, fleet management, and operational efficiency for the transportation industry. Its flagship product Driveri leverages AI and machine learning to analyze driving behaviors in real time to reduce accidents, improve driver retention, lower insurance costs, improve tracking and productivity, and better fleet performance.
Speaking on the latest round of funding, Avneesh Agrawal, CEO and Co-founder, Netradyne said the “funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike.”
The company said it reaches over 3,000 customers and over 450,000 active subscribers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India, with planned expansion throughout Europe and Japan.
“Since our initial investment in 2018, we’ve witnessed Netradyne’s impressive growth and believe their technology is well-positioned not only to empower fleet managers but also to foster a culture of safe driving,” said Sri Chandrasekar, Managing Partner, Point72 Private Investments.
As per data from Tracxn, the latest round brings the total capital infusion in Netradyne to $308 million from investors including SoftBank Vision Fund, Silicon Valley Bank, Reliance Industries, and more. It had last raised $65 million in debt from Silicon Valley Bank.