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NEW YORK - SHV Energy Pvt Ltd, known as Supergas in India, will implement Roadzen Inc.’s (NASDAQ:RDZN) DrivebuddyAI platform across its truck fleet to improve driver safety monitoring, according to a press release statement issued Tuesday. Roadzen’s stock has shown significant momentum, gaining nearly 24% in the past week, according to InvestingPro data.
The AI platform will monitor drivers for risks such as drowsiness and distractions while providing real-time feedback. The implementation will include 24-hour transport operations and a command center, with installation expected to be completed by September 30, 2025. InvestingPro analysis indicates that Roadzen faces some financial challenges, with short-term obligations exceeding liquid assets and a current ratio of 0.42.
Supergas, a wholly owned subsidiary of Dutch multinational SHV Energy N.V., selected Roadzen’s technology after evaluating various video telematics and advanced driver assistance systems against its fleet safety objectives. With last twelve months revenue of $42.89 million and a gross profit margin of nearly 60%, Roadzen continues to expand its market presence despite challenging market conditions. Get more insights and exclusive financial metrics with InvestingPro, which offers 7 additional key tips about Roadzen’s financial outlook.
"It is gratifying that Supergas, a leading LPG company in India known for consistently setting industry innovative standards in infrastructure, technical excellence, and strong commitment to safety, has chosen to adopt DrivebuddyAI for its safety needs," said Rohan Malhotra, Founder and CEO of Roadzen.
Supergas operates LPG terminals, filling plants, depots, and auto LPG dispensing stations across India, serving industrial, commercial, automotive, and domestic customers.
Roadzen’s AI technology is designed to help reduce accident rates, which can lead to higher fleet uptime, improved productivity, and cost savings for transportation companies.
The California-based technology company develops AI solutions for auto insurance, claims processing, and road safety, with offices in the U.S., U.K., and India.
In other recent news, Roadzen Inc. has made several significant announcements. The company reported a strategic partnership through its UK subsidiary, Global Insurance Management Limited, with a leading telematics provider to introduce an integrated vehicle protection solution in the UK. This collaboration is expected to generate seven-figure revenues annually and aligns with Roadzen’s vision of integrating intelligence and insurance. Additionally, Roadzen has issued $2.3 million in convertible notes, providing the company with additional capital for its operations. The notes carry an interest rate of 16% per annum and are convertible into ordinary shares.
In further developments, Roadzen has filed a lawsuit against Meteora Capital Partners, LP, alleging a breach of contract concerning a Forward Purchase Agreement. The lawsuit claims approximately $19.5 million in damages, highlighting issues of trust and transparency in capital markets. Meanwhile, Roadzen’s shareholders have approved all seven director nominees at the company’s recent Annual General Meeting, demonstrating strong shareholder confidence in the board. Lastly, Roadzen’s DrivebuddyAI platform has received a patent in India for its Real-Time Driver Drowsiness Detection Algorithm, enhancing its international intellectual property portfolio. These developments reflect Roadzen’s ongoing efforts to expand its technological and business footprint.
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