BEN­GALURU:

The Pak Banker - - COMPANIES/BOSS -

Zen­drive Inc., a mo­bile tech­nol­ogy com­pany which aims to make roads safer through data and an­a­lyt­ics, raised $13.5 mil­lion in Se­ries A fund­ing 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. The com­pany said the fund­ing will help drive its fo­cus on safety in­no­va­tion. Launched in 2013, the San Fran­cisco-based com­pany that has of­fices in Ben­galuru had raised $1.5 mil­lion in its ear­lier round, tak­ing its to­tal fund­ing raised so far to $15 mil­lion. "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)," said Pankaj Ris­bood, co-founder and vice-pres­i­dent, data en­gi­neer­ing, at Zen­drive, in a state­ment. The tech­nol­ogy taps mo­bile sen­sors to mea­sure driver safety through ac­tions like ac­cel­er­a­tion, brak­ing, swerv­ing, and phone use among other data to an­a­lyse and re­turn ac­tion­able in­sight for fleets and driv­ers. In­dia ac­counts for more than 200,000 deaths be­cause of road ac­ci­dents, ac­cord­ing to the 2015 Global Road Safety Re­port by the World Health Or­ga­ni­za­tion. "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," said Ris­bood.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.