Netradyne Targets Doubling Revenue by 2024 Through Client Growth and Acquisitions

Netradyne, a provider of AI-powered safety camera systems for commercial vehicles, is targeting a revenue doubling by December 2024. The company plans to achieve this through client expansion, acquisitions, and upselling to its existing customers. Netradyne, which closed 2023 with ₹1,000 crore in revenue, already serves over 3,000 clients globally, including Shell, IndianOil Skytanking, and Greenline Mobility, and has deployed its technology in more than 300,000 vehicles across the US, Canada, Mexico, India, and Europe.

Durgadutt Nedungadi, Senior Vice President of India and International Business at Netradyne, shared the company’s growth plans. "We are focused on expanding our client base, particularly in key markets such as the US, Europe, the UK, and India," he said. In the European and UK markets, Netradyne is collaborating with partners in fleet management to further its reach. The company recently entered into a partnership with Germany’s Roos Fleetservice GmbH, a fleet management solutions provider.

Nedungadi highlighted the strong demand from various sectors, including heavy goods vehicles, hazardous material carriers, and smaller fleets like city transport vehicles. He emphasized Netradyne’s growing influence in these areas, as more companies build partnerships with the firm. Netradyne is also exploring opportunities to engage with local governments, as regulatory support could drive wider adoption of its technology.

The company manufactures its products in India through a contract manufacturer in Gurgaon, while the majority of its research and development is also conducted in the country. Netradyne's flagship product, the DriverI safety camera, combines AI, machine learning, and edge computing to monitor unsafe driving behavior in real-time. Equipped with inward and outward-facing cameras, the system provides companies with valuable insights and helps promote safer driving practices. Since its inception, Netradyne has raised $227 million from investors, including Reliance and the SoftBank Vision Fund.

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