Netradyne, a San Diego, CA-based developer of an artificial intelligence (AI) technology platform focusing on driver and fleet safety, raised $21m in Series B funding.
The round was led by M12, which will now hold a role on the board, with participation from Reliance Industries Limited (through its subsidiary RIIHL) and Point72 Ventures.
The company intends to use the funds to scale operations and make investments in the application of AI and deep learning in new industry segments, with examples including:
– Dynamic 3D/HD Mapping: Provides real-time, crowdsourced, high definition (HD) maps using commercially deployed Driveri™ devices. HD Maps enable improved transportation data analytics and autonomous vehicle research and development.
– Data Analytics: Gives real-time insight into numerous aspects of driving, including road conditions, driver behaviors, unique driving scenarios, seasonal and weather-specific considerations, traffic patterns and concentrated geographic risk areas.
– Insurance: Transforms analyzed data into comprehensive offerings insurance companies can use to underwrite and analyze professional drivers across the country.
Led by Avneesh Agrawal, Founder and CEO, Netradyne utilizes AI, Machine Learning (ML), and Edge Computing to enhance road and driver safety. Its Driveri™ is a vision-based driver recognition and fleet safety platform that captures and analyzes every minute of every driving experience, providing commercial fleet managers with insights into positive driving and identifying opportunities for individual coaching.