Netradyne, a provider of artificial intelligence (AI) and edge computing focusing on driver and fleet safety, has announced a $150 million, Series C funding led by SoftBank Vision Fund 2, with participation from existing investors Point72 Ventures and M12.
This financing, along with earlier investments, brings Netradyne’s total capital raised to over $197 million. Netradyne will use the new funding to advance its core technology, expand into new geographies and accelerate hiring across R&D, marketing, and customer support.
Netradyne provides fleets of all sizes with an advanced video safety camera and fleet performance analytics tracking, as well as driver awareness tools to help reduce risky driving behavior and reward safe driving decision-making. Since its founding in 2015, Netradyne has grown to reach over 1,000 fleets, across multiple industries.
“We believe Netradyne is an industry leader who is poised to profoundly impact the entire transportation ecosystem by creating safer roads,” said Nagraj Kashyap, Managing Partner at SoftBank Investment Advisers. “Through its advanced vision-based technology, Netradyne is helping to improve the commercial driver experience and performance to help reduce transportation-related deaths and injuries on the roadways. We are pleased to partner with Avneesh and the Netradyne team as they harness the power of computer vision and edge computing to revolutionize modern-day transportation.”
“This investment by SoftBank solidifies our global marketplace leadership position in fleet safety technology,” said Avneesh Agrawal, CEO, Netradyne. “With this new infusion of capital, we will invest even more deeply into advanced AI technology and accelerate our international expansion – all in support of furthering our mission to create safer roadways for all.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.