Netradyne valued $1 billion by raising $150 million from Softbank Vision Fund
US based start-up Netradyne has raised USD 150 million in series C round led by Softbank Vision Fund at a valuation close to USD 1 billion. Existing investors Point72 Ventures and M12 also participated in the round. The company plans to leverage this new funding to advance its core technology, expand into new geographies and accelerate hiring across research and development including in India, marketing, customer support.
Netradyne CEO Avneesh Agrawal said, "This investment by SoftBank solidifies our global marketplace leadership position in fleet safety technology. With this new infusion of capital, we will invest even more deeply into advanced AI technology and accelerate our international and India market expansion. We will also utilize bulk of our funding on hiring top-notch talent in India which accounts for two-thirds of our 300 strong global employee base."
Netradyne provides fleets of all sizes with an advanced video safety camera and fleet performance analytics tracking, as well as driver awareness tools using artificial intelligence and edge computing to help reduce risky driving behaviour and reward safe driving decision-making.
This financing with earlier investments brings Netradyne's total capital raised to over USD 197 million.
"We have a history of identifying and backing companies that are developing transformative technologies that contribute to the betterment of humanity. The technology developed by Netradyne and its advancements are poised to profoundly impact the entire transportation ecosystem by creating safer roads," SoftBank Investment Advisers (Vision Fund) Managing Partner Nagraj Kashyap said.
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