Netradyne Secures $90 Million in Series D Funding to Advance AI-Powered Fleet Safety Technology

Netradyne Secures USD 90 Million in Funding to Drive AI-Powered Fleet Safety

Netradyne raised USD 90 million in Series D funding led by Point72 Private Investments, Qualcomm Ventures, and Pavilion Capital. Netradyne, a provider of AI-powered fleet management solutions, has raised USD 90 million in a Series D funding round led by Point72 Private Investments, with participation from Qualcomm Ventures and Pavilion Capital. According to the company's announcement on Saturday, January 18, 2025, the funding will support advancements in research and development, global expansion, and enhanced go-to-market strategies. Also Read: CamCom and Vistas Global Partner to Transform Smart City Management with AI "The traditional approach to driver performance and fleet safety is obsolete," Netradyne stated, adding that it is pioneering a new era of driver-focused technology backed by over 18 billion vision-analysed driving miles. The company highlighted that its product, Driver i, is the only solution capable of positively recognizing good driving behaviour. By leveraging technology to reinforce good driving habits, Netradyne claims its solutions help fleets reduce accidents, improve driver retention, lower insurance costs, boost tracking and productivity, and enhance overall fleet performance. "This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide," said Avneesh Agrawal, CEO and Co-Founder at Netradyne. "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." Sri Chandrasekar, Managing Partner at Point72 Private Investments, remarked, "Investing in Netradyne is about believing in safer roads and supporting professional drivers. 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." Also Read: Coram AI Raises USD 13.8 Million to Bring AI to Video Security According to Netradyne, Driver i, powered by advanced AI, offers unparalleled accuracy in identifying both positive and negative driving behaviours. This fosters trust and enables effective in-cab coaching. In addition to promoting safer driving, these capabilities help fleets protect drivers from false claims, reduce collisions and insurance costs, optimise productivity, and simplify compliance management. The company also emphasised that its solutions provide a comprehensive and accurate assessment of driver performance by analysing 100 percent of drive-time data. Since its founding in 2015, Netradyne says it now expanded to serve over 3,000 customers and over 450,000 active subscribers, serving customers across the United States, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India, with planned expansion throughout Europe and Japan. Also Read: Bynder Unveils New and Expanded AI Capabilities at NRF for Retailers The company's customers include some of the most prominent names in global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction, according to the official release.

Netradyne raises $90M to encourage safer driving with AI dashcams - SiliconANGLE

Netradyne raises $90M to encourage safer driving with AI dashcams Netradyne Inc., a startup that's using artificial intelligence and edge computing to try and improve driver safety, said today it has raised $90 million in Series D funding. Point72 Private Investments led today's round, with participation from Qualcomm Ventures and Pavilion Capital. The startup's driver safety technology is mainly targeted at companies running fleets of vehicles, including big names like Amazon.com Inc. It's the designer of an AI-enabled dashcam that collects vehicle data and video to try and improve driver safety, and it claims that it's able to reduce the frequency of accidents by around 50% compared to vehicles that don't have its tech installed. Its AI-powered dashcams have two cameras -- one facing inward and one facing outward - and they're paired with edge computing sensors that can detect when drivers are distracted or driving dangerously, and warn them about this. Uniquely, it also strives to reward drivers for good behavior. Netradyne's products include a quad-view dashcam that collects footage from the road- and driver-facing cameras, as well as two additional cameras on the sides of the vehicle. These are used to capture drivers' behavior, reduce blind spots and record evidence in the case of an accident. In addition, the company offers an add-on called Hub-X, which is an extension to the dashcam that allows for up to four extra cameras to be placed anywhere in the vehicle. For instance, a customer might want to place cameras at different locations in a bus. Its second product is a driver monitoring system that can be integrated with the quad-view dashcam. It uses a number of sensors to detect when the vehicle's driver is drowsy. Netradyne calls the complete system Driver*i, and says it's the only driver safety product in the world that rewards drivers who behave positively. By reinforcing good driving habits, the startup says it can help fleets reduce accidents, increase driver retention, lower their insurance costs and achieve better overall fleet performance. Other benefits of Driver*i include being able to protect fleet vehicle drivers from false claims, and simplified compliance management, the startup says. The company last raised money in 2021 when it closed on a $150 million Series C round of funding, and since then it has expanded from the U.S. and India into markets such as Australia, Germany, New Zealand and the U.K. During that time, it has accumulated a vast trove of data covering more than 18 billion miles of driving behavior, and it has used this information to boost the accuracy of its Driver*i system's alerts to an impressive 99%. With today's funding, Netradyne wants to expand into new markets including Ireland and Japan, and it will also develop more AI systems. In an interview with TechCrunch, Netradyne co-founder and Chief Executive Avneesh Agrawal said he's interested in using the company's proprietary data to develop new foundational models that can enhance autonomous driving systems. It won't create its own driver assistance tech, but rather partner with companies that specialize in this area. Agrawal said Netradyne's advantage is that no one else in the autonomous driving industry has access to the countless hours of driver behavior video data it has collected. "Our objective now is to train a driving model using generative AI to identify new edge cases," he said. Point72 Private Investments' managing partner Sri Chandrasekar said he's investing in the startup because he wants to help make the roads safer and support professional drivers. "Since our initial investment in 2018, we've witnessed Netradyne's impressive growth and believe its technology is well-positioned not only to empower fleet managers but also foster a culture of safe driving," he said.

Netradyne® Raises $90 Million in Series D Funding Led by Point72 Private Investments

Capital raised on unprecedented growth in the commercial fleet industry, Netradyne's global expansion will help accelerate advances in industry-leading AI and support a rapidly growing customer base SAN DIEGO-(BUSINESS WIRE)-January 16, 2025- Netradyne, an industry-leading SaaS provider of artificial intelligence (AI) and edge computing, announced the close of a $90 million Series D round led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital. The capital infusion will accelerate the company's growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global expansion, solidifying Netradyne as a global industry leader in commercial fleet technology. The traditional approach to driver performance and fleet safety is obsolete. Netradyne is pioneering a new era of driver-focused technology backed by over 18 billion vision-analyzed driving miles. Netradyne's Driver*i is the only solution that can positively recognize good driving behavior. By reinforcing good driving behavior with revolutionary technology, fleets experience reduced accidents, improved driver retention, lower insurance costs, improved tracking and productivity, and better fleet performance. "Investing in Netradyne is about believing in safer roads and supporting professional drivers," said Sri Chandrasekar, Managing Partner at Point72 Private Investments. "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. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry." Netradyne's solutions offer a comprehensive and accurate driver performance assessment by analyzing 100% of drive-time data. Powered by advanced AI, Driver*i delivers unparalleled accuracy in identifying both positive and negative driving behaviors, fostering trust and enabling effective in-cab coaching. In addition to promoting safer driving, these capabilities help fleets shield drivers from false claims, minimize collisions and insurance costs, optimize productivity, and simplify compliance management. This funding comes on the heels of exciting growth. Since its founding in 2015, Netradyne now reaches over 3,000 customers and over 450,000 active subscribers, serving customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India, with planned expansion throughout Europe and Japan. Netradyne's customers include some of the biggest names in global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction. "The successful completion of our Series D funding round is a significant milestone for Netradyne and a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions," said Avneesh Agrawal, CEO and Co-Founder at Netradyne. "This 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." About Us: Founded in 2015 by Avneesh Agrawal (CEO) and David Julian (CTO), Netradyne is a global leader in AI-powered fleet safety and video telematics solutions. Headquartered in San Diego, with offices in San Francisco and Bangalore, Netradyne serves customers worldwide. View source version on businesswire.com: https://www.businesswire.com/news/home/20250116342580/en/