Kruzr, an AI-based startup that offers digital driving assistant service, has announced that it has secured $1.3 million in its seed funding round. The funding round was led by Saama Capital along with the participation of Better Capital.
The newly infused capital will now be used by the company to expand its technology team, scale up its products, and for expanding its business in Europe and UK.
Commenting on this development, Pallav Singh, co-founder and chief executive of Kruzr, said,
Road accidents cause over 1.3 million deaths globally every year, and motor insurance companies lose billions of dollars due to these. However, more than 75% of accidents are preventable with timely driver assistance. We, at Kruzr, are building technology (digital driving assistants) to minimise these accidents and help make motor insurance truly preventive and customer-centric.
Vaibhav Domkundwar of Better Capital, said:
Kruzr is leveraging the latest advances in mobile, big data, and AI to build a unique preventive driving technology that will save lives and help motor insurance companies design personalized policies.
Founded in 2016 by Pallav Singh, Aryan, and Jasmeet Singh Sethi, Kruzr offers an artificial intelligence-powered voice assistant in a mobile app to help drivers reduce the risk of accident due to distracted driving, drowsiness, speeding, and others.
The company claims to have cut down distracted driving by 80 percent in its pilot projects with insurers. The startup is now working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents & improve claims.