LightMetrics, a startup that provides video telematics services to commercial vehicle fleets globally, has secured $8.5 million in its Series A funding round led by Sequoia Capital India.
With this latest round of funding, LightMetrics will focus on strengthening various teams, including engineering, customer success, product, marketing, sales, and analytics, to prepare for future growth.
The company plans to invest in AI technologies, develop new products and solutions, and explore opportunities in the auto insurance industry to enhance its offerings and provide more value to fleets across its operations.
LightMetrics was founded in 2015 by Soumik Ukil, Ravi Shenoy, Mithun Uliyar, Gururaj Putraya, Pushkar Patwardhan, and Krishna A.G.
Their video telematics platform uses edge AI and analyses video feeds from cameras installed in vehicles to gain visibility into risky driving behaviors and improve safety. The platform provides real-time analysis of both road and driver-facing cameras to identify unsafe driving practices and reduce accidents.
The company claims to have deployed its solution to more than 2500 fleets in India, the Middle East, the US, Canada, Mexico, Brazil, Australia, and South Africa. LightMetrics’ platform is easy to integrate and provides a comprehensive view of fleet operations, allowing fleet managers to monitor driving behavior, reduce costs associated with accidents, and improve the safety of their drivers.
LightMetrics’ focus on AI technologies and its ability to analyze video feeds from cameras installed in vehicles provide a unique advantage in the video telematics market. With this latest funding round, the company is well-positioned to expand its offerings and continue to provide value to fleets across the globe.