A leader in artificial intelligence (AI) and edge computing, Netradyne, has announced a $150 million Series C round of financing led by SoftBank Vision Fund 2* along with investors Point72 Ventures and M12. In total, Netradayne has raised more than $197 million in total capital, along with earlier investments. As a result of this funding, Netradyne will expand into new regions and hire recruiters to develop its core technology, as well as marketing and customer service team members.
Nagraj Kashyap, the Managing Partner at SoftBank Investment Advisers, said, “We believe Netradyne is an industry leader who is poised to profoundly impact the entire transportation ecosystem by creating safer roads. 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.”
Netradyne offers video safety camera systems for fleets of all sizes as well as fleet tracking systems for fleet performance analytics. We also provide tools that increase drivers’ knowledge of safe driving practices. Driveri®, powered by AI and edge computing, is a powerful fleet safety and driver recognition tool designed to reward positive driving habits, empowering employers to retain good workers as the industry grapples with massive labor shortages. A key advantage of Driveri is its capability to transform the way the industry operates. It is the only solution that offers a complete view of driving behavior capturing object detection, event causation, and a full understanding of what is going on the road instead of only capturing video after an incident happens as with legacy platforms.
Avneesh Agrawal, CEO, Netradyne, said, “This investment by SoftBank solidifies our global marketplace leadership position in fleet safety technology. 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.”
Using Driveri®, safety performance can be proactively increased across fleets by using actionable data. The system can measure speed, traffic sign compliance, following distance, aggressive driving, distracted driving, and much more. Driveri® provides real-time alerts to drivers about any poor driving behavior or incidents that require immediate action. The advanced edge computing capabilities of Driveri® enable the application to detect positive driving incidents as well.
