US based tech startup, NetraDyne that provides “deep-learning” solutions, has raised $16 million in Series A funding from the venture arm of Indian conglomerate — Reliance Industries (RIL).
NetraDyne provides deep learning solutions and vision-based analytics for the fleet management, automotive, security and surveillance industries.
The company will use the funding to drive the commercialization of its Intelligent Internet of Things (IoT) product roadmap serving multiple global markets.
The company states that its crowdsourcing of visual IoT data continuously improves its Deep Learning models, delivering insights and new levels of business intelligence to decision makers.
“NetraDyne’s camera systems generate large amounts of data. Our innovation is pushing intelligence to the edge, so that only critical information is passed up to the cloud,” said Avneesh Agrawal, NetraDyne’s Co-Founder and CEO.
“Video represents the largest opportunity in the Big Data revolution and we see NetraDyne well-positioned to capitalize on this emerging trend.”
Founded in 2015 in San Diego, CA and Bengaluru, India, by Agrawal, NetraDyne is targeting a diverse set of industries where vision-based analytics are a key differentiator of performance. Agrawal is a tech veteran and has been the Senior VP of Technology and Business at Qualcomm.