California-based startup Netradyne has raised $90 million in Series D funding, led by Point72 Private Investments, with participation from Qualcomm Ventures and Pavilion Capital, to further expand its AI-powered fleet safety solutions globally. The new investment brings the company's pre-money valuation to $1.35 billion, solidifying its position as a leader in the commercial fleet safety market.

Netradyne's innovative approach to fleet safety involves the use of AI-enabled dashcams that collect vehicle data and video to improve driver safety, reducing accidents by around 50%, according to the company. The devices, which can come equipped with inward- and outward-facing cameras, utilize edge computing to send drivers real-time notifications if they're distracted or driving dangerously, while rewarding drivers for good behavior.

The company has experienced significant growth since its $150 million Series C in 2021, expanding beyond North America and India into Germany, the U.K., Australia, and New Zealand. With this new funding, Netradyne plans to enter the Irish and Japanese markets in the coming months, further solidifying its global presence.

Netradyne's vast accumulation of over 18 billion miles' worth of data has enabled the company to improve its product to a remarkable 99% accuracy of alerts and 25 million better compliance scores. This data will be crucial in developing foundational driving models, focusing on corner case driving scenarios to enhance autonomous driving technology.

The company's CEO and co-founder, Avneesh Agrawal, highlighted Netradyne's intention to invest more in generative AI, adding additional use cases to its co-pilot and adopting a more "agentic approach." Agrawal also emphasized that the company does not plan to develop its own autonomous vehicle (AV) technology but rather partner with others, offering its valuable data and insights.

Netradyne's customer base spans various industries, including online retail, food and beverage, oil and gas, utilities, construction, and more. The startup provides two main products: a quad-view dashcam that collects footage from road-facing, driver-facing, and two side window cameras, and a dual-view camera that faces both the road and the driver. Additionally, the company offers a driver monitoring solution that can detect drowsy driving behaviors using a dedicated sensor.

In response to concerns around driver privacy, Agrawal assured that Netradyne is GDPR-compliant and never provides personally identifiable information of drivers externally. The company's commitment to safer roads and supporting professional drivers has earned the trust of investors, with Sri Chandrasekar, managing partner at Point72 Private Investments, stating, "Investing in Netradyne is about believing in safer roads and supporting professional drivers."

Netradyne has seen 65% growth in the last 12 months and expects to be net profitable in the next year. With this new funding, the company is poised to continue its impressive growth trajectory, further solidifying its position as a leader in the commercial fleet safety market.