Reliance Industries Investment, the corporate venturing division of conglomerate Reliance Industries, supplied $16m in series A capital for US-based internet-of-things platform provider Netradyne on Wednesday.
Incorporated in 2015, Netradyne is combining deep learning technology with the internet of things to develop products that will combine advanced video analytics and business intelligence. The technology could power visual sensors that provide actionable data to companies.
Netradyne will use the cash to advance commercialisation of its product roadmap. The company is targeting a range of sectors, though it has not yet revealed further details.
Avneesh Agrawal, co-founder and chief executive of Netradyne, said: “Netradyne’s camera systems generate large amounts of data. Our innovation is pushing intelligence to the edge, so that only critical information is passed up to the cloud.
“Video represents the largest opportunity in the big data revolution and we see Netradyne well-positioned to capitalise on this emerging trend.”