Tuesday, November 5

Tag: NetraDyne

AI Startup Netradyne Raised $21 million in Series B Funding
29Sep By Gauri SinghNo Comments
FUNDING

AI Startup Netradyne Raised $21 million in Series B Funding

Artificial Intelligence startup Netradyne that is concerned with driver and commercial fleet safety has reportedly raised funds amounting to $21 million in Series B funding. The round was led by Microsoft’s corporate venture arm M12 (formerly Microsoft Ventures). It also saw participation from backers like Reliance Industries and Point72 Ventures. Following the funding round, M12 will join the company board and "bring additional resources and expertise focused on scaling the company". The funds so raised by the company are being planned to be used in making a sizable investment in the application of AI and deep learning in new industry segments. This includes areas like Dynamic 3D or HD Mapping, Data Analytics and Insurance. "We’re excited about our investment in Netradyne, an innov...
Read More
Reliance Industries Acquires 37.4% Stake in California’s AI Startup
27Sep By Gauri SinghNo Comments
ACQUISITION

Reliance Industries Acquires 37.4% Stake in California’s AI Startup

Reliance Industries has invested an amount of $8 million in California-based NetraDyne. NetraDyne is an artificial intelligence company that focuses on the driver and commercial fleet safety. Prior to this, Reliance invested $16 million in June 2016 in the startup, thus, this marks as its second investment in the firm. With this investment, Reliance now has taken over around 37.4% stake in the startup. According to the statement, the investment was made through its subsidiary Reliance Industrial Investments and Holdings (RIIHL). It has subscribed to 4.06 million shares (4,058,647 shares) at Rs 1.9711 per share. Reliance said this investment has potential synergies with its "digital services and communications initiatives, apart from commercialization benefits in India." NetraDy...
Read More