Reliance Industries Makes A Second Investment In AI Startup NetraDyne

Bengaluru and San Diego headquartered NetraDyne, a deep learning startup that focuses that is pushing the boundaries in computer vision and its application in vehicle technology has now raised  $8 million from Reliance Industries. According to an ET news report, this is the second investment by Reliance Industries in the AI startup, raising the stake to 37.4 percent in the startup. Earlier, Reliance had invested $16 million in June 2016. The startup is the first provider of commercial vehicle technology and integrates AI with video to detect, reason and determine causality of events providing commercial fleets with timely meaningful data. This allows the fleet to quickly apply resources, recognizing superior performance or addressing at-risk driving before it becomes a severe event, the website indicates. Founded by ex-Qualcomm India & South Asia president Avneesh Agrawal and David Julian, the startup provides Driveri, a vision-based driver retention and safety platform for commercial vehicles. The startup’s driver safety solution -- Driveri helps to alert fleet managers about the driver’s behaviour by capturing every aspect of the driving experience – ranging from the condition of a traffic light in relation to the vehicle, to calculating following distance of vehicles on the road, to the texture of the road environment. The company statement indicates that NetraDyne is the first “true” vision-based company in the Commercial Fleet Segment to utilize the computational power of a TeraFLOP processor. An ET report indicated that the startup posted a turnover of 0.4 million in 2018.