Netradyne, an artificial intelligence (AI) company, has secured $65 million (around ₹518 crore) 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 product suite, and global corporate expansion, said the company. 

“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,” he added. 

Netradyne currently operates in the US, India, Canada, UK, Australia, and New Zealand. With the recent debt financing, Netradyne will expand its international growth to Mexico, and four European countries including France, Germany, Italy, and Spain by early 2023.

In five years, Netradyne’s Driver i advanced A.I. technology analysed more than 5 billion driving miles and analysed over 20 billion minutes. A technology learning equivalent to 38,000 years of training, increasing A.I. accuracy to 98 per cent in core features, said the company. 

Netradyne has also announced the latest additions to its executive leadership team and global headcount. Netradyne’s recent executive hires and promotions include Durgadutt Nedungadi, VP and General Manager, APAC and Europe, Heather Engen, VP of Customer Success, Pramod Akkarachittor, Vice President of Product Management, Tom Schmitt, Chief Financial Officer, and Michael Campos, Data Protection Officer. In addition, the company is now over 500 employees strong worldwide.

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