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GreenRoad secures Virgin investment worth millions
Date: 05 February 2008
Fleet safety specialist GreenRoad Technologies has secured a £7.29m investment led by Sir Richard Branson's Virgin Green Fund. The new money will expand and support GreenRoad's global operations, including expansion in the UK business car market.
GreenRoad uses in-vehicle telematics to identify high-risk drivers and help focus on areas of improvement through real-time feedback and automated web safety profiles. The company works particularly with business fleets and teenage or high-risk drivers via partnerships with insurance companies.
A major customer in the UK is T-Mobile, which said it "lowered risky driving behaviour by 50%" within six weeks of installing GreenRoad, cutting its accident rate by 23% as a result.
