Roadzen secures $2.25 million in registered direct offering

Published 28/07/2025, 14:18
Roadzen secures $2.25 million in registered direct offering

NEW YORK - Roadzen Inc. (NASDAQ:RDZN), an AI technology company focused on insurance and mobility solutions, has agreed to sell 1,730,769 ordinary shares at $1.30 per share in a registered direct offering to an institutional investor, according to a press release statement issued Monday. The offering price represents a slight discount to the current market price of $1.53, with the stock showing strong momentum, having gained 43% in the past week.

The transaction is expected to generate approximately $2.25 million in gross proceeds before deducting placement agent fees and other offering expenses. Maxim Group LLC is serving as the sole placement agent for the offering.

The company anticipates the offering will close around July 29, 2025, subject to customary closing conditions.

The securities are being offered through a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission in November 2024.

Roadzen, headquartered in Burlingame, California, develops AI technology used by insurers, carmakers, and fleets for insurance products, claims processing, and road safety applications. The company employs 308 people across offices in the U.S., U.K., and India.

The press release did not specify how the company plans to use the proceeds from the offering.

In other recent news, Roadzen Inc. has raised $2.25 million through a private placement of common stock, priced at a 20% premium to recent trading prices. The financing came from four of its largest existing shareholders, with the securities subject to a six-month holding period under regulatory rules. Roadzen has also announced a partnership with a major two-wheeler manufacturer to provide connected roadside assistance for electric vehicles in India, integrating its AI-powered platform into the vehicles. Additionally, its UK subsidiary, Global Insurance Management Limited, has teamed up with a leading UK car retailer to offer Guaranteed Asset Protection (GAP) insurance, enhancing the purchasing process for over 60,000 annual vehicle buyers.

Further developments include SHV Energy Pvt Ltd, known as Supergas, selecting Roadzen’s DrivebuddyAI platform to enhance fleet safety by monitoring driver risks and providing real-time feedback. Roadzen has also secured a patent in India for its Real-Time Driver Drowsiness Detection Algorithm, a technology that uses AI and computer vision to detect driver fatigue and issue alerts. This patent adds to Roadzen’s expanding international intellectual property portfolio, with applications underway in the United States and Europe.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.