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AI-focussed safety startup Netradyne raises $21 mn from RIL, Microsoft

RIL (through RIIHL) had invested $16 million during the series A round

Press Trust of India  |  New Delhi 

technology, AI, machine learning, VR, AR, big data, artificial intelligence

Netradyne, an artificial intelligence-focussed driver and fleet safety startup, said it has raised $21 million in funding from M12 - Microsoft's corporate venture arm, (through its subsidiary RIIHL) and Point72 Ventures.

M12 led the series B investment round and will now hold a role on the board, bringing additional resources and expertise focused on scaling the company, a statement said.

(through RIIHL) had invested $16 million during the series A round, it added.

The additional investment will be used to expand the team that has created early success for its product, Driveri — a vision-based driver recognition and fleet safety platform.

utilises new-age technologies like AI, (ML), and Edge computing to significantly enhance road and driver safety. Its platform captures and analyses every minute of the driving process, providing commercial fleet managers with insights and also identifying areas for providing individual coaching.

will also make a sizeable investment in the application of and deep learning in new industry segments like dynamic 3D/HD mapping, data analytics, insurance etc.

"In a very short period of time, has made major strides in commercialising next-generation in ways that deliver tangible impact to real businesses," Netradyne founder and CEO said.

Founded in 2015, Netradyne has technology innovation centres in San Diego, US and Bengaluru.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, September 28 2018. 19:50 IST