Reliance and SoftBank-backed Netradyne raises $90 Mn in Series D

Netradyne, a SaaS provider of artificial intelligence (AI) and edge computing, has raised 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 initiatives, and global expansion, Netradyne said in a press release.

Founded in 2015 by Avneesh Agrawal (CEO) and David Julian (CTO), Netradyne provides AI-powered fleet safety and video telematics solutions. Headquartered in San Diego, California, with offices in San Francisco and Bangalore, India, Netradyne serves customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India.

Using advanced AI, Driver.i identifies both good and bad driving behaviors, supporting trust and effective in-cab coaching. According to the company, these features promote safer driving, protect drivers from false claims, reduce collisions and insurance costs, boost productivity, and simplify compliance management.

The company states that it now serves over 3,000 customers and has more than 450,000 active subscribers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India, with plans to expand further into Europe and Japan.

Netradyne caters to customers in online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction industries.

The San Diego and Bengaluru-based firm has raised more than $350 million to date. This includes $65 million in September 2022 from Silicon Valley Bank and $195 million in July 2021 led by SoftBank Vision Fund. Mukesh Ambani-led Reliance Industries is one of the early backers of the company.