Netradyne, the California-based tech startup, is creating a revolution in road safety with its intelligent dashcams. As a response to the alarming rate of distracted driving incidents, Netradyne offers AI-integrated dashcams for commercial fleets, including industry giants like Amazon.
In the bid to expand its product globally, Netradyne recently succeeded in securing a hefty $90M Series D funding. This leaves the firm sitting comfortably at a pre-money valuation of $1.35 billion. Investment support came from Point72 Private Investments, with Qualcomm Ventures and Pavilion Capital also contributing.
Netradyne’s dashcams are armed with inward and outward-facing cameras. These AI-powered devices collate vehicle data and video footage which are instrumental in enhancing driver safety. As stated by the company, their technology has successfully diminished accidents by about 50%.
Besides improving safety, Netradyne’s dashcams also aid in maintaining driver efficiency. By utilizing edge computing, real-time alerts flag any signs of distraction or hazardous driving. Simultaneously, drivers demonstrating safe driving practices are awarded.
The recent round of funding is set to boost Netradyne’s growth into Ireland and Japan in the forthcoming months. Currently, the company’s footprint extends from North America and India to Germany, the U.K., Australia, and New Zealand.
The company’s ever-increasing expansion welcomes an influx of data. So far, Netradyne has amassed over 18 billion miles of data which has propelled their product to a near-perfect accuracy of 99% with regard to alerts.
Proceeds from the new capital infusion will be put to use primarily for product enhancement and magnifying go-to-market investments. It will also bolster the development of its AI-enabled co-pilot system, Safety Manager Assistant.
More than just selling smarter dashcams, Netradyne, with its rich vision data, aims to be a prime catalyst in shaping the future of autonomous driving technology.
Original source: Read the full article on TechCrunch
