The funding will help accelerate Netradyne’s growth in commercial fleet industry . Credit: Vitpho/Shutterstock.

Netradyne, a SaaS provider specialising in artificial intelligence (AI) and edge computing, has closed a $90m Series D funding round.

The funding is led by Point72 Private Investments, with participation from Qualcomm Ventures and Pavilion Capita and helps to accelerate Netradyne’s growth in commercial fleet industry.

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This round marks the second investment by Point72 Private Investments in Netradyne, following a Series B investment in 2018.

Point72 Private Investments managing partner Sri Chandrasekar said: “Investing in Netradyne is about believing in safer roads and supporting professional drivers. 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. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry.”

The capital will be used to bolster Netradyne’s research and development, enhance go-to-market strategies, and support global expansion.

Netradyne claims to be “pioneering a new era” of driver-focused technology, supported by more than18 billion vision-analysed driving miles.

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Its flagship product, Driver•i, is the “only solution” that can recognise positive driving behaviour, leading to reduced accidents and improved fleet performance.

According to the company, its solutions provide “comprehensive and accurate” driver performance assessments by evaluating 100% of drive-time data.

Since its inception in 2015, Netradyne has garnered more than 3,000 customers and 450,000 active subscribers.

The company serves customers in Australia, Canada, Germany, India, Mexico, New Zealand, UK and the US, and plans expansion in Europe and Japan.

Netradyne chief executive officer and co-founder Avneesh Agrawal said: “The successful completion of our Series D funding round is a significant milestone for Netradyne and a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions.”

“This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even 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.”