Netradyne, a software-as-a-service (SaaS) startup, has raised $90 million in a Series D funding round led by Point72 Private Investments, with additional participation from Qualcomm Ventures and Pavilion Capital. The US- and Bengaluru-based company intends to utilize the new funding to broaden its global presence, strengthen its go-to-market efforts, and drive strategic investments in research and development.
“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 Sri Chandrasekar, Managing Partner at Point72 Private Investments, in a statement.
Netradyne leverages artificial intelligence and edge computing to provide safety solutions for drivers and fleets. Its customer base spans multiple industries, such as food and beverage, oil and gas, transportation, utilities, field services, and passenger transit.
“This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver 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,” noted Avneesh Agrawal, CEO and Co-founder at Netradyne.
Founded in 2015, the company reported having over 3,000 customers and over 450,000 active subscribers worldwide, including in the United States, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India.
The company has raised over $218 million across several funding rounds. Its latest round, held in September 2022, secured $65 million in debt financing, including senior and junior mezzanine loans from Silicon Valley Bank.
