Zendrive bags $37m in Series-B round

BENGALURU: Driving analytics platform Zendrive has raised $37 million in a Series-B funding round led by XL Innovate, with participation from Hearst Ventures and existing investors including ACME Capital, BMW iVentures, NYCA and SignalFire, among others.

The company plans to use the money to build out its mobile driving safety solution and grow its team across five continents. “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,” said Jonathan Matus, CEO, Zendrive.

Zendrive’s research and development centre in Bengaluru comprises its data science, engineering and product teams, which develop solutions to address road safety problems. In addition to the fundraising, Zendrive has also launched FullStop, a mobile-powered risk solution for stop-sign violations that has been designed for the Insure-Tech industry. The solution will offer predictive capabilities like speeding and aggressive acceleration, the company said.