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GreenRoad Technologies raises $3M for fuel economy and driver safety technology

GreenRoad Technologies, a Redwood Shores, Calif.-based firm with offices in Israel and London, has added another $3 million in funding to its $14.5 million third round, courtesy of Amadeus Capital Partners. The European VC joins previous investors Virgin Green Fund, Benchmark Capital and Balderton Capital.

The company, which provides in-vehicle sensors and web-based services aimed at reducing crashes and improving fuel economy, will use the proceeds to expand its sales and marketing operations and R&D efforts. Operating via a number of web-based applications, the GreenRoad Safety Center sensor monitors the driver’s abilities and behavior and provides continuous feedback to help improve his skills.

GreenRoad is partnering with other businesses to provide insurance and risk management services for fleet operators and drivers. In addition to cutting the average number of crashes by 54 percent, the company claims its technology has helped its customers lower their emissions and achieve significantly better gas mileage.

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