Thursday, Mar 28 2024 | Time 17:39 Hrs(IST)
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Business Economy


Netradyne raises USD65 million

Mumbai, Sep 8 (UNI) Netradyne, a SaaS leader in artificial intelligence (A.I.) and edge computing focusing on driver and fleet safety, on Thursday said it has secured $65 million in a combination of senior and junior mezzanine financing from Silicon Valley Bank (SVB).
The financing will help accelerate Netradyne’s business momentum, further development of its industry leading product suite, and global corporate expansion.
''Our continued momentum is a testament to Netradyne’s focus on helping fleets succeed with industry leading safety technology,” said Avneesh Agrawal, co-founder, and CEO of Netradyne.
“After five years in business we have set some unprecedented market leading best practices, and this round of funding from SVB will help propel us forward.''
Netradyne’s reach is further bolstered by its international growth, currently operating in the US, India, Canada, the UK, Australia and New Zealand.
With this recent debt financing, Netradyne will expand its international growth to Mexico, and four European countries including France, Germany, Italy, and Spain by early 2023.

''It has been a pleasure to work closely with Avneesh and the Netradyne team over the past several years to support their continued growth and expansion,” said Eric Otterson, Managing Director for Silicon Valley Bank in San Diego.
“Netradyne’s fleet safety and tracking solutions are great examples of the innovative solutions and technologies being developed right here in San Diego. Our goal is to empower Netradyne, and the broader San Diego tech ecosystem, with the right financing, services, and connection to move their businesses forward.''
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