Roadzen Inc - RDZN STOCK NEWS

Roadzen Inc. (Nasdaq: RDZN) has reached an agreement with Mizuho Securities USA to extend the maturity date of its $11.5 million 15% senior secured notes by one year, to December 31, 2025. The extension is subject to negotiation of definitive agreements and satisfaction of conditions. The company sees this debt restructuring as important for achieving a valuation that reflects its potential, with CEO Rohan Malhotra highlighting Mizuho's support in converting short-term notes into long-term debt.

Roadzen Inc. (NASDAQ: RDZN) has announced a partnership with Cimarron Underwriters through a Memorandum of Understanding (MOU). This strategic alliance will enable Roadzen to leverage Cimarron's nationwide Managing General Agent (MGA) licenses to expand its insurance offerings across all 50 U.S. states.

Under the partnership, Roadzen will utilize Cimarron's brokerage licenses and platform to launch and expand its U.S. brokerage business. Cimarron will oversee agent production, appointment, and supervision, while Roadzen will manage underwriting, sales, accounting, and claims processing through its global technology platform. The company will maintain an asset-light approach by onboarding reinsurance and insurance partners without taking on underwriting risk.

Roadzen Inc. (NASDAQ: RDZN) has partnered with Motive to provide roadside assistance and towing services to Motive's customer base of over one million vehicles. The partnership, through Roadzen's National Automobile Club (NAC), will generate direct revenue based on per vehicle per incident, offering 24/7 nationwide service coverage at substantial savings to Motive customers.

The service will be available from December 16 through Motive's Driver App, with a pay-per-use model and no monthly fees. According to industry data, approximately 20-30% of U.S. trucks require roadside assistance annually, with breakdowns occurring roughly every 10,000 miles. The partnership combines AI-powered risk detection with fleet management capabilities to enhance driver safety and minimize operational disruptions.

Motive has launched a new 24/7/365 roadside assistance service through a partnership with National Automobile Club, offering comprehensive support for commercial fleets. The service provides access to over 75,000 roadside assistance providers across the US and Canada, with customers receiving up to 20% discounts and an additional 5% when using the Motive Card.

The launch comes as holiday season data shows a 32% increase in accidents around Christmas, with 65.5% of collisions occurring on wet or snowy roads. The service includes heavy-duty towing, jump starts, tire changes, fuel delivery, and lock-out assistance, with average response times under 20 seconds and service arrival within 60 minutes.

This addition complements Motive's existing safety features, including AI-powered Drowsiness Detection and Forward Collision Warning systems, which help prevent accidents caused by driver fatigue and rear-end collisions.

Roadzen Inc. (NASDAQ: RDZN) has secured a five-year contract with a major Indian LPG supplier to implement its drivebuddyAI system across their fleet of over 500 vehicles. The contract is expected to generate seven-figure revenue over its term. DrivebuddyAI, the first system to receive ARAI certification under India's AIS184 standard, was selected after a five-month validation process against leading competitors.

The system features advanced AI-powered safety capabilities including 98-point landmark tracking for driver eye movement, real-time monitoring, and predictive analytics. Key features include distraction alerts, drowsiness detection, focus monitoring, and emotion tracking. The technology aims to enhance driver safety, reduce risks, and optimize fleet operations while ensuring compliance with regulatory standards.

Roadzen Inc. (Nasdaq: RDZN) announced two major milestones for its DrivebuddyAI platform: becoming the first system to receive ARAI certification under India's AIS 184 standard and surpassing one billion kilometers of real-world driving data. The platform's AI-powered system provides real-time safety features including distraction alerts, collision warnings, and driver behavior monitoring.

The AIS 184 standard is expected to be mandatory for all 4 million commercial vehicles in India by FY 2026. The global ADAS market, valued at $24.5 billion in 2023, is growing at 18.2% annually, with India's market projected to reach $9.98 billion by 2032. DrivebuddyAI utilizes custom neural networks to analyze road conditions, traffic signs, and driver behavior for enhanced safety compliance.

Roadzen (NASDAQ: RDZN) reported Q2 FY25 financial results with revenue of $11.9 million, marking a 33% increase from Q1's $8.9 million. The company posted a net loss of $21.8 million, with an Adjusted EBITDA loss of $2.1 million, showing a 25% improvement from Q1. Notable achievements include adding 5 new enterprise clients and expanding to 108 total enterprise clients across insurance and automotive sectors. The company secured shareholder support with approximately 56 million shares locked up until September 2025. Roadzen also launched MixtapeAI, their next-generation platform for insurance and mobility sectors.

Roadzen Inc. (Nasdaq: RDZN) has launched MixtapeAI, a platform designed to power AI agents in the insurance and mobility sectors. The platform leverages foundation models from OpenAI, Google, Anthropic, and Meta to automate complex workflows and enhance customer interactions.

MixtapeAI offers features including automated workflow management, multi-channel customer engagement, real-time system integration, and brand-specific communication. The platform can handle tasks from KYC and claims processing to policy administration and roadside assistance, providing comprehensive end-to-end solutions for insurers, brokers, agents, carmakers, and fleets.

Roadzen Inc. (Nasdaq: RDZN), a global leader in AI for insurance and mobility, will present at The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York. Rohan Malhotra, Founder and CEO, will present at 9:00 a.m. ET, with management holding one-on-one investor meetings throughout the day.

The ThinkEquity Conference brings together institutional investors, corporate clients, and industry professionals to showcase innovations and financial strategies. Past conferences have featured over 70 company presentations, 700+ attendees, and 500+ one-on-one meetings.

Roadzen Inc. is transforming auto insurance using advanced AI. Its technology serves clients from insurers and carmakers to dealerships and agents, offering solutions for building products, selling insurance, processing claims, and improving road safety. The company has 380+ employees across global offices in the U.S., India, U.K., and France.