Netradyne Raises $150 Million Funding In Series C To Improve Commercial Driver Safety
- ByStartupStory | July 15, 2021
Netradyne, a startup with the help of cameras and edge computing to improve commercial driver safety, has raised $150 million in Series C funding. According to Avneesh Agrawal, CEO and co-founder, the fresh cash will help the company double down on its current product, Driveri. This Series C round was led by SoftBank Vision Fund. Existing investors Point72 Ventures and M12 also participated in the round, bringing Netradyne’s total funding to over $197 million. The company aims to make $100 million in revenue by the end of this year. Agrawal said, “the company is very confident in its product, which rewards good driver behavior while sending real-time notifications to drivers for bad behavior, and will now focus on expanding outside its current markets in North America and India and into Europe.”
Netradyne, which combines netra which means “vision” in Sanskrit and dyne which is a unit of power or force in Greek, has built a full stack system that is purely vision-based, according to Agrawal. That means cameras in simpler terms. The system comes in two form factors. The D-210, built for small-to-medium-sized vehicles is a dual-facing dashcam featuring both an inward and outward-facing camera, recording both the driver and the road. The D-410 has four HD cameras providing a 360-degree picture, which includes two side window views, and is better suited for heavy duty vehicles. Netradyne has an agreement with National Interstate Insurance that subsidizes the company’s product, but generally Netradyne sells to a fleet. The pitch is that the fleet should see a reduction in accidents and can then take that data to insurance companies to negotiate better claims.
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