Commercial fleet owners are investing heavily in telematics data to improve road safety concerns, driver well-being and operational efficiencies. It's a marketplace worth $76 billion and set to grow to $214 billion in the next six years. However, their insurance claims have been steadily increasing over the past five years.
Aiming to rebalance this equation, video telematics business - LightMetrics is announcing a $8.5 million funding round from Sequoia Capital India, to help telematics service providers adopt video telematics and help fleets become safer.
