funding

Zendrive Raises $13.5M in Series A

Pankaj-Risbood-Co-Founder-and-VP-Zendrive
Pankaj Risbood, Co-Founder and VP (ENG), Zendrive

Zendrive, the mobile technology that makes roads safer through data and analytics, has raised a $13.5 million Series A round.

This 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. The funding will drive the company’s focus on safety innovation as the world rapidly moves toward the future of transportation.

“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 VP (ENG), Zendrive. “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,” he added.

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. Zendrive, founded by Google and Facebook veterans, is utilizing powerful artificial intelligence algorithms and hundreds of billions of data points to analyze sensor data and return actionable insights for fleets and drivers. Because it’s software-based, managing and scaling within any number of vehicles is simple and affordable, allowing for more flexibility than a hardware solution.

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.

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