Zendrive, which is a road safety analytics startup, has now secured INR 265.17 crore in the funding round of Series B led by the US-based Venture Capital XL Innovate.
Some of the existing investors ACME Capital, SignalFire and BMW iVentures also participated in the funding round, said the announcement. Some other investors that contributed to the round include the Hearst Ventures, according to the report.
The company will now be going to use the funds to build its mobile safety driving solution and to enhance its global team with the focus on the insurance market.
The Bangalore based company which is operated by the Zendrive Inc was founded by the Pankaj and Jonathan in 2013. The company provides a solution for the clients that help them adapt to any situation. It tracks activities such as braking, swerving, acceleration, and phone use and gives users a ‘drive score.’ Its technology can be used by a broad list of industries and products which includes commercial fleets, on-demand services, insurance, taxi aggregators, mapping, roadside assistance, driving instruction companies.