Netradyne secures $90 million in Series D funding to expand footprint

The capital infusion will accelerate the company's growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global expansion

Netradyne, a software-as-a-service (SaaS) provider of artificial intelligence (AI) and edge computing, on Friday said it has raised $90 million in Series D round, a capital infusion which it plans to use to accelerate the firm’s growth through strategic investment in R&D, along with aggressive global expansion.

 

The funding round was led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital. The firm claimed that this would further strengthen its position as a global leader in commercial fleet technology.

 

Netradyne has raised a total funding of $308 million from investors such as SoftBank Vision Fund, Hyundai Cradle and Reliance Industries, according to the data platform Tracxn. The company didn’t reveal the valuation of the firm after this funding round.

 

“The successful completion of our Series D funding is a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions,” said Avneesh Agrawal, CEO and Co-Founder at Netradyne.

 

“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.”

 

The traditional approach to driver performance and fleet safety is obsolete. Netradyne said it is pioneering a new era of driver-focused technology backed by over 18 billion vision-analysed driving miles. Netradyne’s ‘Driver•i’ is a solution that can positively recognise good driving behaviour. By reinforcing good driving behaviour with technology, fleets experience reduced accidents, improved driver retention, lower insurance costs, improved tracking and productivity, and better fleet performance.

 

Sri Chandrasekar, Managing Partner at Point72 Private Investments said that investing in Netradyne is about believing in safer roads and supporting professional drivers.

 

“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,” said Chandrasekar. “We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry.”

 

Netradyne’s solutions offer a comprehensive and accurate driver performance assessment by analysing 100 per cent of drive-time data. Powered by advanced AI, Driver•i delivers accuracy in identifying both positive and negative driving behaviours, fostering trust and enabling effective in-cab coaching. In addition to promoting safer driving, these capabilities help fleets shield drivers from false claims, minimise collisions and insurance costs, optimise productivity, and simplify compliance management.

 

This funding comes on the heels of the company’s strong growth. Since its founding in 2015, Netradyne now reaches over 3,000 customers and over 450,000 active subscribers, serving customers across the United States, Canada, Mexico, Germany, the UK, 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, the firm said.