Netradynea SaaS-based artificial intelligence (AI) and edge computing company based in San Diego, Calif., focused on driver and fleet safety, has secured $65 million in a combination of senior and junior mezzanine financing.
Silicon Valley Bank provided the financing.
The financial resources will make it possible to accelerate the commercial dynamic of the company, to extend its international growth to Mexico and to four European countries including France, Germany, Italy and Spain by the beginning of 2023, and to further develop its product range.
Led by Avneesh Agrawal, Co-Founder and CEO, Netradyne leverages artificial intelligence and edge computing to deliver fleet safety solutions to improve driver behavior and fleet performance. It collects and analyzes data points and meaningful insights so customers can strengthen security, improve retention, increase profitability, and enable transparency.
In five years, Netradyne’s advanced AI Driver•i technology has analyzed over 5 billion miles traveled and analyzed over 20 billion minutes, technological learning equivalent to 38,000 years of training, increasing the accuracy of 98% AI in basic functionality.
The company currently operates in the United States, India, Canada, United Kingdom, Australia and New Zealand.