Distracted driving is one of the leading causes of car accidents and a major reason why car insurance premiums are expected to rise in 2025. For commercial vehicles, this is a nightmare. But it's a tailwind for California-based startup Netradyne.
Netradyne provides vehicle owners, including major companies like Amazon, with AI-enabled dashcams that collect vehicle data and video to improve driver safety, reducing accidents by approximately 50%, according to the company. I will. These devices have inward- and outward-facing cameras and use edge computing to send real-time notifications and alert drivers when they are distracted or driving unsafely. reward good behavior.
TechCrunch last reported on Netradyne's $150 million Series C in 2021, and since then the company has expanded beyond North America and India to Germany, the United Kingdom, Australia, and New Zealand. To further drive growth into Ireland and Japan in the coming months, Netradyne is investing at a pre-money valuation of $1.35 billion, led by Point72 Private Investments, with participation from Qualcomm Ventures and Pavilion Capital. It just raised $90 million in Series D funding.
And with big expansion comes big data. Over the years, Netradyne has amassed more than 18 billion miles worth of data, which the company says has improved its product to the point where it has improved alert accuracy by 99% and improved compliance scores by 25 million points.
Apart from global expansion, the new funding will be used to improve products and strengthen go-to-market investments.
Vehicles now have access to Netradyne's Safety Manager Assistant. It is an AI-powered co-pilot that provides a natural language interface to the company's portal and uses generative AI to converse about data and insights. Netradyne CEO and co-founder Avneesh Agrawal told TechCrunch that the company will invest further in generative AI, adding additional use cases in co-pilots and a more “agent-like approach.”
Agrawal also said that Netradyne plans to leverage its vast amount of data to develop fundamental driving models focused on specialized driving scenarios to enhance autonomous driving technology. said.
“We have a wealth of visual data that analyzes every aspect of the road and driving behavior and reads different road signs. No one in the self-driving industry has this kind of data.” said Agrawal. “Our current goal is to use generative AI to train driving models to identify these edge cases.”
He added that Netradyne is not looking to develop its own AV technology, but rather to partner with other companies to provide startup data and insights.
Netradyne's customers span sectors such as online retail, food and beverage, oil and gas, utilities, and construction. The startup offers two main products. The first is a quad-view dashcam that collects footage from a road-facing camera, a driver-facing camera, and two side window cameras all into one easy-to-install device. This captures driver behavior, reduces blind spots, and provides evidence in the event of an accident. The second is a dual-view camera that faces both the road and the driver.
Vehicle owners who want more visibility can use the Hub-X add-on, which is an extension to their in-car camera. This allows up to four additional cameras to be installed wherever needed, such as at the rear of the bus.
The startup also offers a driver monitoring solution that can be added to a quad camera to detect drowsy driving behavior using night detection and a dedicated sensor that can be seen through most sunglasses, the company said.
In response to concerns about driver privacy, Agrawal said Netradyne is GDPR compliant and never provides personally identifiable information about drivers.
“Our investment in Netradyne is about believing in safer roads and supporting professional drivers,” said Sri Chandrasekhar, Managing Partner at Point72 Private Investments. “Since our initial investment in 2018, we have seen Netradyne's impressive growth and believe its technology is well-positioned to not only empower fleet managers, but also foster a culture of safe driving. ”
Agrawal said Netradyne has grown 65% in the past 12 months and expects to make a net profit next year.
This article has been updated to reflect Netradyne's new rating.