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Netradyne, a vision-based safety camera system for commercial vehicles that utilises AI, ML, and IoT to detect unsafe driver behaviour, aims to double its revenue by December 2024 by inducting new clients, and acquisitions, and upselling current ones. The company, which follows a calendar year, closed its topline at ₹1,000 crore in December 2023.
Currently, Netradyne has over 3,000 customers across the US, Canada, Mexico, India, Netherlands, UK, Australia, New Zealand, and Germany, including Shell, IndianOil Skytanking, and Greenline Mobility, and has deployed more than 300,000 vehicles utilising the technology globally.
“We are planning to expand this clientele further,” said Durgadutt Nedungadi, Senior Vice President, India and International Business, Netradyne.
As part of this expansion, it will be expanding its foothold in the US, Europe, the UK, and India. In the EU and UK, the company is collaborating with established partners in the fleet management space.
“We are seeing significant traction and partnerships with large fleets, whether it’s heavy goods vehicles, hazardous material carriers like Shell, or even smaller city vehicles, such as cash transport vehicles. Our presence is growing across all these areas, and customers are actively building partnerships with us,” he explained.
Efforts to engage
Recently, Netradyne partnered with Roos Fleetservice GmbH, a leading provider of fleet management solutions in Germany.
Additionally, Netradyne looks to establish stronger partnerships with the local government, “We believe regulation can play a crucial role in the adoption of our technology. We are making efforts to engage in this area,” he stated.
Netradyne manufactures its products in India through a contract manufacturer in Gurgaon. “The majority of our R&D is conducted in India, with only a few technologists focused on analytics and algorithms in the US.”
Netradyne, founded by Avneesh Agrawal and David Julian, has developed the DriverI safety camera, a cutting-edge solution that utilises AI, ML, and edge computing. This system monitors and analyses unsafe driving parameters in real-time, including over speeding, drowsiness, and distractions. Equipped with both inward and outward high-definition cameras on a single IoT device, it provides companies with insights into risky driving behaviour and rewards safe driving practices. The company has raised $227 million from high-profile investors, including Reliance and the SoftBank Vision Fund.
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