India, US-based Netradyne gets $21m Series B round

The funding round was led by M12, the corporate venture capital arm of Microsoft, with participation by Point72 Ventures and India's Reliance Industries, which invested through its digital communications and services subsidiary RJIL. Reliance previously invested $16 million in Netradyne's 2016 Series A round.

Netradyne was founded in 2015 and has technology innovation centers in both San Diego and Bangalore. The company's flagship product Driveri is an AI and machine learning-enabled platform intended for corporate car fleets, using computer vision to capture and analyze driving habits to identify coaching opportunities for commercial fleet managers. Its goal is to reduce driving accidents, raise awareness of risk factors and reward positive driving habits.

According to a release, Netradyne will use the new capital to develop applications of its AI and deep learning technology for a broader range of applications. Its current research areas include dynamic 3D mapping, using real-time crowdsourced data derived from commercially deployed Driveri systems; data analytics on road conditions, weather considerations, and unique driving scenarios; and insurance solutions.

"In a very short period of time, Netradyne has made major strides in commercializing next-generation AI in ways that deliver tangible impact to real businesses," said Avneesh Agrawal, Netradyne's founder and CEO. "We look forward to the next chapter in Netradyne's growth where we extend our value proposition within the commercial fleet industry, while creating new paths into emerging technology segments."

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• North America
• Technology
• Early-stage
• India
• USA
• automobiles
• artificial intelligence
• Microsoft