Fri. Mar 29th, 2024
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According to Geneva-based International Road Federation (IRF), India accounts for highest number of road deaths in the world. Still, people think that it is a trivial issue and will soon be resolved by the government.

Apart from the government’s initiative to reduce the number of road accidents in India using conventional methods, Zendrive is working on the similar cause with advanced techniques using data and analytics.

The platform, which is based out of San Francisco and Bengaluru, has raised $37 million in series B funding, led by XL Innovate. While, other participants in the round include Hearst Ventures, ACME Capital, BMW iVentures, NYCA, SignalFire, and others.

With this funding, Zendrive will continue to build out its mobile driving safety solution and grow its team across five continents to deepen its focus on the global insurance market.

“Zendrive was founded to make roads safe with data and analytics. As we enter this next phase of the business, we are excited to continue to push the innovation curve forward and align with partners who are similarly committed to improving driving behaviour using technology and incentives,” Jonathan Matus, co-founder and CEO at Zendrive, said.

Zendrive was founded by Jonathan Matus in 2014. Its research and development centre is headquartered in Bengaluru, which includes data science, engineering, and product teams, all developing solutions to problems around road safety.

Tom Hutton, who led the round at XL Innovate, said, “No one ever imagined that smartphone sensors could detect stop sign violations without dedicated hardware like dash-mounted cameras. Zendrive’s data science capabilities are pushing the envelope from what’s conceivable to what’s now currently possible.”

Along with the financing, Zendrive has also announced the launch of ‘FullStop‘, a mobile-powered risk solution for stop sign violations designed for the InsureTech industry.

The company said that it has amassed the world’s largest driving data set, analysing over 180 billion miles to date.

The company’s AI-enabled solution is capable of generating risk models that are six times more predictive than existing industry standards, it added.

Some of the significant startups that falls under the similar roof include Dash, Automatic, Zubie, Mojio, Vinli, and many more.

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