Video telematics platform LightMetrics raised $8.5 million in Series A from Sequoia Capital India. The startup stated in a press release that the funds will be used to expand its engineering, customer success, product, marketing, sales, and analytics teams.
LightMetrics will also invest in new products and services to provide greater value to fleets across its operations. The funds will also be used to investigate related opportunities such as auto insurance.
LightMetrics offers a video telematics platform with AI on the edge that enables fleets to gain visibility into a variety of risky driving behaviours through real-time analysis of road and driver-facing cameras.
The data gathered from all vehicles in the fleet is presented as insights with workflows to help manage the fleet in terms of safety and driver behaviour.
According to the company, its solutions have been used by over 2,500 fleets in India, the Middle East, the United States, Canada, Mexico, Brazil, Australia, and South Africa. Furthermore, the startup claims that fleets using LightMetrics experienced risky driving behaviour after only a few months of use.
“LightMetrics’ ability to deploy advanced computer vision models on the edge, across a range of dash cameras, enables it to serve all vehicle types in this large market,” said Ashish Agrawal, MD, Sequoia India. At Sequoia Capital India, we believe that advances in artificial intelligence will transform several industries and are excited to work with LightMetrics on their mission to improve road safety.”
The startup also stated that it does not sell directly to fleets and instead collaborates with telematics service providers and fleet management companies. It gives its customers the option of using in-house APIs or building their own UI. LightMetrics claims to be hardware agnostic and does not sell cameras.