Company Name : Zendrive
Funding Amount : $13.5 million
Investor(s) Sherpa Capital, Nyca Partners, Thomvest Ventures.
Funding Round : Series A
Zendrive, the mobile technology that makes roads safer through data and analytics has raised a $13.5 million in Series A. The round was led by Shervin Pishevar of Sherpa Capital with participation from Nyca Partners, Thomvest Ventures (Peter J. Thomson) and existing investors First Round Capital, BMW i Ventures, Fontinalis Partners (Bill Ford), and Tad Montross.
Pankaj Risbood, Co-Founder and VP ENG of Zendrive, said, “The transportation and logistics sectors in India are undergoing rapid growth and modernization. At the same time, road safety is becoming an increasing focus for regulators and communities (240,000 fatalities on the road in 2013). Zendrive technology, by virtue of working on any smartphone, fits in very well with the requirements for a solution that is cheap, does not require hardware and can be rapidly deployed nationwide.”
Through its product suite, Zendrive’s SDK technology taps mobile sensors to measure driver safety through actions like acceleration, braking, swerving, and phone use, among many others.
Pankaj adds, “Zendrive engineering team in India is building state of the art machine learning models to monitor driving behaviors and employing game mechanics to coach drivers to become safer. We are already working with hundreds of billions of sensor data points and growing very rapidly to extract actionable insights for making roads safer.”
Zendrive’s technology can be used by a broad list of industries and products including on-demand services, commercial fleets, taxi aggregators, insurance, city planning, mapping, driving instruction, roadside assistance, and more. The company is based out of San Francisco with its engineering unit in Bangalore.
With its new investment, Zendrive plans to grow its team and continue honing its road safety technology. This round brings the company’s total investment up to $15 million.