NEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced two major milestones: its proprietary, computer vision-powered Advanced Driver Assistance System (ADAS) platform, DrivebuddyAI, has become the first-ever system to receive Automotive Research Association of India (ARAI) certification under India’s Automotive Industry Standard 184 (AIS 184) and has crossed one billion kilometers of real-world driving data. These accomplishments establish DrivebuddyAI as a pioneer in real-world AI and road safety.

The AIS 184 standard, expected to be mandated for all 4 million commercial vehicles in India by FY 2026, defines stringent technical and procedural requirements for driver monitoring, drowsiness detection, and road safety compliance. Following months of extensive validation and road testing by ARAI, DrivebuddyAI emerged as the sole compliant, integrable, driver safety system for auto OEMs looking to adopt the standard.

Transforming Road Safety Through Computer Vision

Leveraging DrivebuddyAI’s custom neural networks built to analyze objects, road markings, traffic signs, driver behavior, and the behavior of other road users to make informed driving decisions, the system offers a comprehensive suite of real-time safety features, including:

• Distraction and drowsiness alerts
• Predictive collision warnings
• Driver behavior monitoring, such as seatbelt compliance, phone usage detection, and smoking alerts
• In-cabin analysis powered by 98-point driver eye-movement tracking
• Seamless 2-way communication for fleet optimization
  

In another milestone, DrivebuddyAI has surpassed one billion kilometers of real-world driving data, enabling continuous improvements in driver safety and monitoring while addressing critical needs for fleet operators, carmakers, and insurers. This data is also invaluable for training autonomous vehicle (AV) systems, offering insights across diverse road environments.

Rohan Malhotra, the Company’s founder and CEO, commented:
"India, one of the fastest-growing economies globally, is undergoing massive infrastructure expansion, driving unprecedented demand for heavy commercial vehicles. With over 4 million trucks today projected to grow to 17 million by 2050, safety and compliance have become critical. We’re proud to be the first and only company to meet India’s rigorous AIS 184 requirements while achieving the extraordinary milestone of a billion kilometers of real-world driving data."

Mr. Malhotra added:
"Imagine a network of connected vehicles functioning as a continuous mesh of camera sensors, capturing real-time data on road conditions, traffic flow, and driver behavior. This is the future of mobility, and we are powering it."

Nisarg Pandya, Head of DrivebuddyAI, emphasized:
"Studies show that up to 50% of road accidents are caused by fatigue or distraction. With India set to mandate Driver Monitoring Systems (DMS) by 2026 and Europe, the U.S., and China following suit, DrivebuddyAI is positioned to lead the global shift toward AI-driven safety compliance. The global ADAS market, valued at $24.5 billion in 2023, is growing at 18.2% annually, with India outpacing at 18.8% to reach $9.98 billion by 2032. We are committed to capturing a significant share of this transformative market."

For more information about Roadzen Inc., please visit https://roadzen.ai/.

About Roadzen Inc.
Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world’s leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen’s technology to build new products, sell insurance, process claims, and improve road safety. Roadzen’s pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen’s mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai.

Cautionary Statement Regarding Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” and “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our expected revenue growth, strategy, demand for our products, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in “Risk Factors” in our Securities and Exchange Commission (“SEC”) filings, including the annual report on Form 10-K we filed with the SEC on July 1, 2024. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

For more information, please contact:
Investor Contacts: IR@roadzen.ai

Media Contacts:
Roadzen: Sanya Soni sanya@roadzen.ai or media@roadzen.ai
Gutenberg: roadzen@thegutenberg.com