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...