Mobile technology startup Zendrive has raised $13.5 million (about Rs 91 crore) in Series-A round of funding. The round was led by Shervin Pishevar of Sherpa Capital and saw participation from Nyca Partners, Thomvest Ventures (Peter J Thomson) and existing investors First Round Capital, BMW i Ventures, Fontinalis Partners (Bill Ford) and Tad Montross. Zendrive, which seeks to make roads safer through data and analytics, said the funding will be used for team building and increasing engineering capabilities in data science and backend technology. “The transportation and logistics sectors in India are undergoing rapid growth and modernization,” said Pankaj Risbood, co-founder and VP of engineering at Zendrive. “At the same time, road safety is becoming an increasing focus for regulators and communities.” “Zendrive technology, by virtue of working on any smartphone, fits in very well with the requirements for a solution that is cheap, does not require hardw .. Read more at: http://economictimes.indiatimes.com/articleshow/50858953.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Source: Economic TimesZendrive raises $13.5 million in in Series-A round of funding.
Industry: Information technology 2016-02-05
