Netradyne, a software-as-a-service (SaaS) startup, has raised $90 million in Series D round led by Point72 Private Investments, according to a statement today, January 17. Qualcomm Ventures and Pavilion Capital also participated In the round, the company said.
The startup plans to use the funding for R&D, enhanced go-to-market investments, and global expansion.
“Since our initial investment in 2018, we’ve witnessed Netradyne’s impressive growth and believe their technology is well-positioned not only to empower fleet managers but also to foster a culture of safe driving. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry,” said Sri Chandrasekar, managing partner at Point72 Private Investments.
The US- and Bengaluru-based startup was founded in 2015. Netradyne’s AI-enabled safety platform Driver•i can positively recognise good driving behavior. By reinforcing good driving behavior with technology, fleets experience reduced accidents, improved driver retention, lower insurance costs, improved tracking and productivity, and better fleet performance.
“This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike,” said Avneesh Agrawal, CEO and co-founder at Netradyne.
Netradyne claims to reacg reaches over 3,000 customers and over 450,000 active subscribers currently. The company serves customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India, with planned expansion throughout Europe and Japan. Netradyne’s customers include some of the biggest names in global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction.
In the startup space today, ethnic wear D2C brand House of Chikankari also raised a seed funding.
On the other side, the Department for Promotion of Industry and Internal Trade (DPIIT) on Friday said it has signed an agreement with venture capital fund Avaana Capital to extend support to the manufacturing and deep-tech startups.
