Roadzen, Inc. - Ordinary Shares (RDZN)

Roadzen has eliminated a total of $12.6 million in short-term liabilities over the last six months utilizing $1.65 million in cash and approximately 1.2 million ordinary shares priced at $2.80 per share

NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the intersection of insurance and mobility, today announced the integration of DeepSeek’s open-source reasoning model into Roadzen’s recently launched MixtapeAI platform. The combination of these groundbreaking technologies, available as of today, brings advanced reasoning-based AI agent capability to businesses in the insurance and mobility sectors while maintaining strict data sovereignty.

NEW YORK, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced the closing of its previously announced public offering of 2,222,300 ordinary shares (the “Offering”) on a best efforts basis at a public offering price of $2.25 per share, for gross proceeds of $5,000,175, before deducting placement agent discounts, commissions and Offering expenses. All of the ordinary shares were sold by the Company.

NEW YORK, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced the pricing of a best-efforts offering of 2,222,300 ordinary shares at a public offering price of $2.25 per share, for gross proceeds of approximately $5,000,000, before deducting placement agent fees and offering expenses. All of the ordinary shares are being offered by the Company. The offering is expected to close on January 6, 2025, subject to satisfaction of customary closing conditions.

NEW YORK, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced its partnership with Simple Energy, a new-age player building high-range electric two-wheelers, and a leading global reinsurer to offer extended warranties for Simple Energy’s vehicles. The reinsurer provides the underwriting capacity and is responsible for paying claims.

Partnership expands global opportunity for Roadzen’s AI-powered ADAS and DMS platform for Fleets and OEMs

NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced that its existing client National Insurance Company Ltd. (“NICL”) has expanded the geographical scope for Roadzen’s AI powered XClaim Product. NICL has a total of 34 Regional Offices, of which 10 joined Roadzen’s AI-powered XClaim platform. Based upon strong performance, NICL has expanded its contract with Roadzen to include an additional 4 regional offices, effective January 1, 2025.

NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced the closing of its previously announced underwritten public offering of 2,300,000 ordinary shares (or pre-funded warrants (("Pre-funded Warrants")) in lieu thereof), including 300,000 shares sold upon full exercise of the underwriter’s option to purchase additional shares (the “Offering”) at a public offering price of $1.25 per share (inclusive of the Pre-Funded Warrant exercise price), for gross proceeds of $2,875,000, before deducting underwriting discounts, commissions and Offering expenses. All of the ordinary shares (and/or Pre-funded Warrants) were sold by the Company.

NEW YORK, Dec. 15, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced the pricing of an underwritten public offering of 2,000,000 ordinary shares (or pre-funded warrants ("Pre-funded Warrants") in lieu thereof) at a public offering price of $1.25 per share (inclusive of the Pre-Funded Warrant exercise price), for gross proceeds of $2,500,000, before deducting underwriting discounts, commissions and offering expenses. All of the ordinary shares (and/or Pre-funded Warrants) are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares (and/or Pre-funded Warrants) at the public offering price less discounts and commissions, to cover over-allotments. The offering is expected to close on December 17, 2024, subject to satisfaction of customary closing conditions.

NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, announced that it was honored today with the IFTA Excellence in InsurTech award by the India FinTech Forum. The award recognizes Roadzen’s outstanding achievements in demonstrating exceptional innovation, efficiency, and customer impact in the insurance industry.

NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the intersection of insurance and mobility, today announced that it has reached an agreement in principle with Mizuho Securities USA LLC, a leading global investment bank and securities firm, to extend the maturity date of its $11.5 million 15% senior secured notes by one year, to December 31, 2025, providing additional financial flexibility for the Company. The completion of the extension is subject to, among other things, the negotiation of definitive agreements for the extension and satisfaction of the conditions negotiated therein.

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced that it has executed a Memorandum of Understanding (MOU) for a partnership with Cimarron Underwriters, LLC (“Cimarron”). Through this proposed partnership, Roadzen will leverage Cimarron’s nationwide Managing General Agent (MGA) licenses and infrastructure to expand the distribution of its insurance offerings across all 50 U.S. states.

New partnership delivers emergency roadside assistance and towing services with substantial savings to all Motive customers

Motive, the AI-powered Integrated Operations Platform, today announced the launch of Motive Roadside Assistance, a comprehensive 24/7/365 roadside support service designed to improve driver safety and operational efficiency. The new service, combined with Motive’s First Responder, strengthens and expands Motive’s comprehensive safety solution by getting drivers the help they need faster, even in remote, hard-to-reach locations. Available through a strategic partnership with Roadzen’s National Automobile Club (NAC), Motive Roadside Assistance connects commercial drivers to more than 75,000 roadside assistance providers across the U.S. and Canada. Motive customers will receive up to 20% discounts on the service, and an additional 5% discount when service is purchased using their Motive Card.

NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced that a leading liquefied petroleum gas (LPG) supplier in India—a wholly owned subsidiary of one of the world’s largest LPG companies—will outfit its entire truck fleet with Roadzen’s drivebuddyAI. The system will monitor driver fatigue and provide real-time feedback to drive improvements in safety and compliance.

NEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced two major milestones: its proprietary, computer vision-powered Advanced Driver Assistance System (ADAS) platform, DrivebuddyAI, has become the first-ever system to receive Automotive Research Association of India (ARAI) certification under India’s Automotive Industry Standard 184 (AIS 184) and has crossed one billion kilometers of real-world driving data. These accomplishments establish DrivebuddyAI as a pioneer in real-world AI and road safety.

NEW YORK, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced its second quarter and six-month financial results for the period ended September 30, 2024.

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a pioneer in AI-driven insurance technology, has launched MixtapeAI, a platform designed to power AI agents and transform customer interactions in the insurance and mobility sectors. With MixtapeAI, insurers, brokers, agents, carmakers, and fleets can deliver intelligent, personalized, and secure customer experiences while automating complex workflows across multiple touchpoints.

NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced that all its major shareholders known to own more than 5% of the Company’s common stock, holders of a majority of its shares held by other shareholders and all company insiders have agreed to extend their lock-up agreements by another twelve months, to September 20, 2025. This represents shareholders owning over 56 million shares that were originally scheduled to be released from lock-up on September 20, 2024, pursuant to the lock-up agreements entered into in connection with the Company’s initial business combination.

Company Recently Won the Prestigious World Auto Forum 2024 Award for Best Product & Business Team in Auto & Mobility Tech

NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced its first quarter financial results for the three-months ended June 30, 2024.

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the intersection of insurance and mobility, has been named one of CNBC's World's Top InsurTech Companies for 2024. This prestigious recognition, awarded by CNBC and Statista, highlights the top 150 InsurTech companies across six market segments globally.

Additional $4 Million and Extension of Maturity on Existing $7.5 Million Facility

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced that the Company’s Special Committee of Independent Directors has unanimously approved a plan for certain related parties to release $3.5 million of short-term debt in exchange for ordinary shares of RDZN. The related parties that have executed binding term sheets and agreed to the exchange include Roadzen’s CEO, Rohan Malhotra, and Pi Capital International Inc. and its affiliate Marco Polo Securities, Inc., which is principally owned by Roadzen’s Chairman of the Board.

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced its results for the twelve-months ended March 31, 2024.