The driver and fleet safety-focused artificial intelligence (AI) company Netradyne, which is backed by Reliance Industries, announced on Thursday that it has secured $65 million in senior and junior mezzanine funding from Silicon Valley Bank in the US.
According to the official statement, the funding will support Netradyne’s global corporate progress, further the development of its product line, and assist the company maintain its current business pace.
In September 2015, Avneesh Agrawal and David Julian established Netradyne. The business has developed Driveri, vision-based driver identification and fleet safety system that shows chances for individual coaching and gives commercial fleet management insights into good driving.
“Our continued momentum is a testament to Netradyne’s focus on helping fleets succeed with industry leading safety technology, After five years in business we have set some unprecedented market leading best practices, and this round of funding from SVB will help propel us forward”, Avneesh Agrawal, Co-founder and CEO of Netradyne, said.
Through key technologies like positive recognition, Netradyne gathers and analyses data points and important information to help enhance driver behaviour and fleet productivity.
“Netradyne’s fleet safety and tracking solutions are great examples of the innovative solutions and technologies being developed right here in San Diego. Our goal is to empower Netradyne, and the broader San Diego tech ecosystem, with the right financing, services, and connection to move their businesses forward,” said Eric Otterson, managing director for Silicon Valley Bank.
The transportation ecosystem is being transformed at Netradyne using Computer Vision and in-depth data analysis to safeguard fleets and drivers and build a safer road for the present. Fleet safety management is transformed and revolutionised by their solutions.