Reliance Industries is investing $16 million (about Rs 108 crores) in NetraDyne, a vision analytics-based startup co-founded by former Qualcomm India & South Asia president Avneesh Agrawal.
Netrodyne which is yet to commence operations aims to provide deep learning solutions and vision-based analytics for the fleet management, automative, security and surveillance industries.
In a regulatory filing, RIL said that the company is in advance stages of product development.
Mukesh Ambani owned RIL made half of the payment on Tuesday, with the balance likely to be invested by next March.