Netradyne, a company that specializes in vision-based safety camera systems for commercial vehicles, is set to double its revenue by December 2024 through client expansion and acquisitions. With a strong focus on utilising AI, ML, and IoT technologies to detect unsafe driver behavior, the company closed its revenue at ?1,000 crore in December 2023.
Currently, Netradyne has a wide customer base across various countries, including the US, Canada, Mexico, India, Netherlands, UK, Australia, New Zealand, and Germany. Some of its prominent clients include Shell, IndianOil Skytanking, and Greenline Mobility, with over 300,000 vehicles globally using their technology. Looking ahead, Durgadutt Nedungadi, the Senior Vice President of India and International Business at Netradyne, expressed the company’s intention to further expand its clientele in regions like the US, Europe, the UK, and India.
In a strategic move to enhance its presence in the European market, Netradyne recently partnered with Roos Fleetservice GmbH, a renowned fleet management solutions provider in Germany. Moreover, the company is keen on establishing stronger partnerships with local governments to facilitate the adoption of its technology through regulatory support.
It’s worth noting that Netradyne manufactures its products in India, emphasizing the importance of the country in its R&D activities. The company’s flagship product, the DriverI safety camera, is a sophisticated solution that leverages AI, ML, and edge computing to monitor and analyze various parameters of unsafe driving in real-time. By offering insights into risky driving behaviors and promoting safe practices, Netradyne aims to revolutionize the commercial vehicle safety industry.
Founded by Avneesh Agrawal and David Julian, Netradyne has secured significant funding from investors like Reliance and the SoftBank Vision Fund, amounting to $227 million. With a clear growth strategy in place and a strong technological foundation, the company is well-positioned to achieve its revenue target by the end of 2024. The focus on expanding its client base, pursuing strategic acquisitions, and fostering key partnerships underscores Netradyne’s commitment to driving innovation and safety in the commercial vehicle sector.
