ET Special“We are primarily focused on reducing the number of accidents,” stresses Avneesh Agrawal, Co-founder and Chief Executive Officer, Netradyne, while David Julian, Co-founder and Chief Technology Officer, Netradyne emphasises the company’s unwavering commitment to innovation driven by artificial intelligence (AI) and data. “We recognise the substantial impact our technology can have on the market, as we constantly set and reset industry-best practices and raise the bar,” Julian adds.
The duo was speaking as part of an ET Soonicorns Summit 2023 video series titled ‘Unicorns and Future Decacorns of India,’ where they break down the impact of Driver•i, an industry-proven driver and fleet safety solution.
Founded in 2015, Netradyne is steering cutting-edge tech solutions to positively impact commercial fleets. With its artificial intelligence-powered device, Driver•i, which is a camera designed to enhance fleet safety and driver performance, Netradyne is revolutionising the road safety and transportation paradigm in a country like India with its complex geo-cultural dynamics.
The company has rapidly expanded its global footprint, operating across the United States, the United Kingdom, Canada, Australia, and New Zealand. The company’s strategic decision to establish two teams and simultaneously train AI algorithms on driving conditions in both India and the US has fueled its swift growth, giving it a unique competitive edge. Netradyne achieved a revenue of rupees 600 crore* (over $72M) in the last financial year and employs over 700 people. It has raised over $250M* in funding. Driving this phenomenal growth story is the ‘Make in India’ product, the brainchild of the co-founders, both corporate veterans with over 300 patents between them. Their extensive experience in managing people, processes, and billion-dollar enterprises brought them together on this project, in an attempt to solve the problem of road safety in India and around the globe.
Steering safe driving practices with Driver•i
“Our core product revolves around driver safety,” says Agrawal. Driver•i is a device with two cameras. One camera is focused on the road, while the other faces the driver. The road-facing camera operates using the same perception stack as autonomous driving technology. This means it tracks every object on the road using computer vision algorithms. It tracks the relationship between objects, such as pedestrians, vehicles, lanes, roads, road signs, and based on this data, it formulates what constitutes safe driving.
The driver-facing camera checks for driver distractions, such as phone usage or signs of drowsiness. When such behaviours are detected, the device promptly alerts the driver to ensure that they take necessary and safe corrective actions.
“The results are fantastic. We have observed a remarkable reduction in accidents and distracted driving,” says Agrawal.
Julian emphasises how Netradyne has transformed the manual processes in the commercial fleet industry through the integration of AI and the capabilities of Driver•i to monitor drivers and offer a 360-degree view of their actions.
“Very early on, we initiated trials with various partners and discovered that the data we collected was very informative for coaching and enhancing driver safety and performance. Additionally, we realised that being driver-positive and recognising instances of exceptional performance were the key differentiators,” says Julian.
“It’s incredible that lives are being saved. We are driven by this passion and believe that our efforts are significant,” Julian adds.
Key learnings and ingredients of success in tech entrepreneurship
Agrawal emphasises that for a tech entrepreneur, their most valuable asset is their team. He further explains that to develop as complex a product as Driver•i, it was critical to get the team together and create a robust system.
“From the very beginning, we held the vision of establishing a global company with a worldwide footprint while simultaneously championing ‘Make in India’. In hindsight, there's a profound sense of pride in our achievements, yet there’s also a sense of wonder because when we first conceived this vision, we had no inkling of the challenges that lay ahead. They often say ignorance is bliss, and as a startup entrepreneur I would like to say that it sometimes propels you forward,” Agrawal reflects.
The Netradyne CEO underscores a pivotal element for success in the fiercely competitive world of tech entrepreneurship: trust, which encompasses investors, employees, and customers. He elaborates that obstacles often arise, in the ‘build’ stage of the product and in such times, it is imperative that customers have confidence in your capacity to resolve these issues.
Furthermore, the initial financial model can occasionally prove too ambitious, particularly given that founders typically begin with limited resources. During such junctures, investors must exhibit faith in your ability to learn and adapt. Agrawal further emphasises the significance of trust, corporate governance, and transparency, viewing trust as a cornerstone for entrepreneurs to navigate the challenges that they might encounter. Going through it alone, he suggests, can be an isolating experience when faced with adversity.
Miles to go, marching ahead
Forging ahead amidst the transformative changes in transport and mobility driven by the fourth and fifth industrial revolutions, Julian underscores the potential of AI in offering profound insights to society and enabling intelligent vehicles.
The Driver•i device seamlessly integrates with networks and vehicles, serving as a versatile platform for communication. Paving the way for the future, Agrawal emphasises that these applications extend beyond the commercial fleet, presenting extensive opportunities for AI, telematics, and edge computing. As Netradyne forays into this emerging territory, he envisions boundless potential and continuing growth in diverse areas for the company.
*Data as of August 2023.
The duo was speaking as part of an ET Soonicorns Summit 2023 video series titled ‘Unicorns and Future Decacorns of India,’ where they break down the impact of Driver•i, an industry-proven driver and fleet safety solution.
Founded in 2015, Netradyne is steering cutting-edge tech solutions to positively impact commercial fleets. With its artificial intelligence-powered device, Driver•i, which is a camera designed to enhance fleet safety and driver performance, Netradyne is revolutionising the road safety and transportation paradigm in a country like India with its complex geo-cultural dynamics.
The company has rapidly expanded its global footprint, operating across the United States, the United Kingdom, Canada, Australia, and New Zealand. The company’s strategic decision to establish two teams and simultaneously train AI algorithms on driving conditions in both India and the US has fueled its swift growth, giving it a unique competitive edge. Netradyne achieved a revenue of rupees 600 crore* (over $72M) in the last financial year and employs over 700 people. It has raised over $250M* in funding. Driving this phenomenal growth story is the ‘Make in India’ product, the brainchild of the co-founders, both corporate veterans with over 300 patents between them. Their extensive experience in managing people, processes, and billion-dollar enterprises brought them together on this project, in an attempt to solve the problem of road safety in India and around the globe.
Steering safe driving practices with Driver•i
“Our core product revolves around driver safety,” says Agrawal. Driver•i is a device with two cameras. One camera is focused on the road, while the other faces the driver. The road-facing camera operates using the same perception stack as autonomous driving technology. This means it tracks every object on the road using computer vision algorithms. It tracks the relationship between objects, such as pedestrians, vehicles, lanes, roads, road signs, and based on this data, it formulates what constitutes safe driving.
The driver-facing camera checks for driver distractions, such as phone usage or signs of drowsiness. When such behaviours are detected, the device promptly alerts the driver to ensure that they take necessary and safe corrective actions.
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“The results are fantastic. We have observed a remarkable reduction in accidents and distracted driving,” says Agrawal.
Julian emphasises how Netradyne has transformed the manual processes in the commercial fleet industry through the integration of AI and the capabilities of Driver•i to monitor drivers and offer a 360-degree view of their actions.
“Very early on, we initiated trials with various partners and discovered that the data we collected was very informative for coaching and enhancing driver safety and performance. Additionally, we realised that being driver-positive and recognising instances of exceptional performance were the key differentiators,” says Julian.
“It’s incredible that lives are being saved. We are driven by this passion and believe that our efforts are significant,” Julian adds.
Key learnings and ingredients of success in tech entrepreneurship
Agrawal emphasises that for a tech entrepreneur, their most valuable asset is their team. He further explains that to develop as complex a product as Driver•i, it was critical to get the team together and create a robust system.
“From the very beginning, we held the vision of establishing a global company with a worldwide footprint while simultaneously championing ‘Make in India’. In hindsight, there's a profound sense of pride in our achievements, yet there’s also a sense of wonder because when we first conceived this vision, we had no inkling of the challenges that lay ahead. They often say ignorance is bliss, and as a startup entrepreneur I would like to say that it sometimes propels you forward,” Agrawal reflects.
The Netradyne CEO underscores a pivotal element for success in the fiercely competitive world of tech entrepreneurship: trust, which encompasses investors, employees, and customers. He elaborates that obstacles often arise, in the ‘build’ stage of the product and in such times, it is imperative that customers have confidence in your capacity to resolve these issues.
Furthermore, the initial financial model can occasionally prove too ambitious, particularly given that founders typically begin with limited resources. During such junctures, investors must exhibit faith in your ability to learn and adapt. Agrawal further emphasises the significance of trust, corporate governance, and transparency, viewing trust as a cornerstone for entrepreneurs to navigate the challenges that they might encounter. Going through it alone, he suggests, can be an isolating experience when faced with adversity.
Miles to go, marching ahead
Forging ahead amidst the transformative changes in transport and mobility driven by the fourth and fifth industrial revolutions, Julian underscores the potential of AI in offering profound insights to society and enabling intelligent vehicles.
The Driver•i device seamlessly integrates with networks and vehicles, serving as a versatile platform for communication. Paving the way for the future, Agrawal emphasises that these applications extend beyond the commercial fleet, presenting extensive opportunities for AI, telematics, and edge computing. As Netradyne forays into this emerging territory, he envisions boundless potential and continuing growth in diverse areas for the company.
*Data as of August 2023.
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