SoftBank-backed ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/netradyne” target=”_blank”>Netradyne, a ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/fleet-safety” target=”_blank”>fleet safety and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/video-telematics” target=”_blank”>video telematics solutions provider, has secured a $90 million equity funding in a round led by ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/point72-private-investments” target=”_blank”>Point72 Private Investments with participation from ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/qualcomm-ventures” target=”_blank”>Qualcomm Ventures and Pavilion Capital.The new capital will be allocated to research and development (R&D), investments in new markets and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/global-expansion” target=”_blank”>global expansion, the San Diego and Bengaluru-based company said on Friday.

Founded in 2015, Netradyne’s flagship product, Driver.i, is an ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ai-powered-dashcam” target=”_blank”>AI-powered dashcam solution that analyses drive-time data to assess the driver’s performance. The platform promotes safer driving by identifying both positive and negative driving behaviours, helping reduce road accidents, protect drivers from false claims at the time of an accident, lower insurance costs, and simplify compliance management.

“We are on a rapid global expansion and are also investing in sales and marketing, which will be an important focus area. Another key area is R&D, including significant bets on generative AI,” Avneesh Agrawal, CEO and cofounder of Netradyne told ET.

Netradyne currently serves over 3,000 customers and has more than 450,000 active subscribers across markets including the US, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India. The company is now planning to expand further into Europe and Japan.

Its customers include prominent players in sectors such as global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction.

In India, notable customers include Nestlé, Shell, and Indianoil Skytanking, among others.Before this round, Netradyne raised $65 million through debt financing from Silicon Valley Bank, which experienced a major collapse in 2023.

Agrawal highlighted the company’s focus on using generative AI to build foundational driving models.

“We are analysing every aspect of driving, running the perception stack of autonomous driving, tracking objects, lanes, and reading signs. This data helps identify corner case scenarios and train a foundational driving model to anticipate these scenarios,” he said.

However, Netradyne does not plan to develop autonomous driving systems directly. Instead, it aims to partner with companies in the autonomous driving space, providing insights derived from its data.

The latest funding round brings the total capital raised by Netradyne to $308 million, according to Tracxn. The company’s existing investors include ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/softbank-vision-fund” target=”_blank”>SoftBank Vision Fund, Silicon Valley Bank, ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/reliance-industries-ltd/stocks/companyid-13215.cms”>Reliance Industries, and others.

Investor interest in video telematics startups focused on fleet and driver safety has grown in recent years. In 2023, LightMetrics, a video telematics company for commercial vehicles, data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/tech/funding/video-telematic-startup-lightmetrics-raises-8-5-million-from-sequoia-capital-india/articleshow/99260136.cms” data-type=”tilCustomLink”>raised $8.5 million in funding from Peak XV Partners (then Sequoia Capital India). Similarly, visual telematics startup data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/tech/funding/visual-telematics-startup-cautio-raises-rs-6-5-crore-from-antler-8i-ventures-others/articleshow/111401008.cms” data-type=”tilCustomLink”>Cautio secured Rs 6.5 crore in a pre-seed funding round led by Antler, 8i Ventures, and AU Small Finance Bank in July 2024.

Investing in Netradyne is about believing in safer roads and supporting professional drivers,” said Sri Chandrasekar, managing Partner at ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/point72″ target=”_blank”>Point72 Private Investments.

SoftBank-backed ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/netradyne” target=”_blank”>Netradyne, a ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/fleet-safety” target=”_blank”>fleet safety and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/video-telematics” target=”_blank”>video telematics solutions provider, has secured a $90 million equity funding in a round led by ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/point72-private-investments” target=”_blank”>Point72 Private Investments with participation from ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/qualcomm-ventures” target=”_blank”>Qualcomm Ventures and Pavilion Capital.The new capital will be allocated to research and development (R&D), investments in new markets and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/global-expansion” target=”_blank”>global expansion, the San Diego and Bengaluru-based company said on Friday.

Founded in 2015, Netradyne’s flagship product, Driver.i, is an ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ai-powered-dashcam” target=”_blank”>AI-powered dashcam solution that analyses drive-time data to assess the driver’s performance. The platform promotes safer driving by identifying both positive and negative driving behaviours, helping reduce road accidents, protect drivers from false claims at the time of an accident, lower insurance costs, and simplify compliance management.

“We are on a rapid global expansion and are also investing in sales and marketing, which will be an important focus area. Another key area is R&D, including significant bets on generative AI,” Avneesh Agrawal, CEO and cofounder of Netradyne told ET.

Netradyne currently serves over 3,000 customers and has more than 450,000 active subscribers across markets including the US, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India. The company is now planning to expand further into Europe and Japan.

Its customers include prominent players in sectors such as global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction.

In India, notable customers include Nestlé, Shell, and Indianoil Skytanking, among others.Before this round, Netradyne raised $65 million through debt financing from Silicon Valley Bank, which experienced a major collapse in 2023.

Agrawal highlighted the company’s focus on using generative AI to build foundational driving models.

“We are analysing every aspect of driving, running the perception stack of autonomous driving, tracking objects, lanes, and reading signs. This data helps identify corner case scenarios and train a foundational driving model to anticipate these scenarios,” he said.

However, Netradyne does not plan to develop autonomous driving systems directly. Instead, it aims to partner with companies in the autonomous driving space, providing insights derived from its data.

The latest funding round brings the total capital raised by Netradyne to $308 million, according to Tracxn. The company’s existing investors include ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/softbank-vision-fund” target=”_blank”>SoftBank Vision Fund, Silicon Valley Bank, ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/reliance-industries-ltd/stocks/companyid-13215.cms”>Reliance Industries, and others.

Investor interest in video telematics startups focused on fleet and driver safety has grown in recent years. In 2023, LightMetrics, a video telematics company for commercial vehicles, data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/tech/funding/video-telematic-startup-lightmetrics-raises-8-5-million-from-sequoia-capital-india/articleshow/99260136.cms” data-type=”tilCustomLink”>raised $8.5 million in funding from Peak XV Partners (then Sequoia Capital India). Similarly, visual telematics startup data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/tech/funding/visual-telematics-startup-cautio-raises-rs-6-5-crore-from-antler-8i-ventures-others/articleshow/111401008.cms” data-type=”tilCustomLink”>Cautio secured Rs 6.5 crore in a pre-seed funding round led by Antler, 8i Ventures, and AU Small Finance Bank in July 2024.

Investing in Netradyne is about believing in safer roads and supporting professional drivers,” said Sri Chandrasekar, managing Partner at ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/point72″ target=”_blank”>Point72 Private Investments.