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SmartDrive Fuels Up With $46 Million New Financing

Friday, November 16, 2007 5:30:00 AM PDT | VentureDeal Staff

SAN DIEGO, CA -- SmartDrive Systems, Inc. said that it has closed its fourth round of venture capital funding, raising $46 million from a syndicate of venture capital firms.

SmartDrive provides vehicle safety devices for commercial and government fleets of vehicles that foster safer driving and aid in accident information retrieval.

Investors in the round were Oak Investment Partners, New Enterprise Associates, Revolution Ventures, The Founders Fund and Western Technology Investment.

The company will use the proceeds to continue product development and enhance its level of customer service.

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