Logistics AI startup Netradyne’s India arm reported an operating revenue of Rs 293.6 crore in the fiscal year ended March 2025, up 29% from Rs 228 crore in FY24, as per its standalone annual financial statements filed with the Registrar of Companies (RoC).
Including other income of around Rs 2 crore, the company’s total revenue stood at Rs 295.6 crore in FY25, up 29.5% from Rs 228.3 crore a year earlier. Meanwhile, the SoftBank-backed startup posted a net profit of Rs 13.81 crore in FY25, marking a 24.5% increase from Rs 11.09 crore in the previous year.
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) came in at Rs 27.1 crore during the year, rising 38% from Rs 19.6 crore in FY24. As a result, EBITDA margin improved 50 basis points (bps) to 9% from 8.5% earlier.
While Netradyne’s holding company is based in the US, all of its major research and development (R&D) work, as well as testing is done at its office in Bengaluru. Nearly 85% of the company’s revenue comes from the US market, while India accounts for 5%.
Founded in 2015 by former Qualcomm executives Avneesh Agrawal and David Julian, Netradyne provides AI-powered fleet and video telematics solutions, a form of passive Advanced Driver Assistance System (ADAS) for vehicle drivers.
Emphasis on AI and Fleet Safety
Netradyne’s flagship product Driver-i, an AI-powered fleet camera system, is capable of monitoring risky driver behaviour, including drowsiness and texting while driving, and sending real-time alerts to prevent accidents.
Netradyne reportedly serve over 3,000 customers, including marquee names such as Amazon, Indian Oil, Greenline Mobility and Shell. The management claims that its customers from India and the US have reported a 50% reduction in accident rates.
Elsewhere, reports emerged in late April 2025 that Netradyne was planning to enter India’s ride-hailing market with AI dashcams. Additionally, the company is also looking to launch a new line of products that will focus on reducing driver fatigue.
Where did Netradyne’s India Arm Spend in FY25?
In line with growth in top line, Netradyne’s India arm reported a 29% rise in total expenses to Rs 275.4 crore during the year under review, compared to Rs 213 crore a year earlier. On a unit economics basis, the company spent Rs 0.90 to earn every rupee of operating revenue.
- Employee Cost: This was the biggest expense head for the AI dashcam provider in India. The company spent Rs 204.3 crore towards employee renumeration and welfare expenses in FY25, up 26.6% from Rs 161.3 crore in the previous year.
- Other Expenses: Netradyne also incurred Rs 52.6 crore in other expenses in FY25, 28.2% higher than Rs 41 crore spent in this bracket a year earlier. These expenses include the likes of advertisement promotional expenses, device installation and uninstallation charges, licence fee costs, among others.
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