Roadzen raises $2.25M in PIPE financing

Roadzen (RDZN) announced it has signed agreements to complete a $2.25M private placement of common stock at a price of $1.25 per share, representing approximately a 20% premium to the company’s recent trading levels. The PIPE financing is being provided by four of Roadzen’s largest shareholders, underscoring their continued support and conviction in the company’s execution. The shares issued in the PIPE will be restricted securities and subject to a six-month holding period under Rule 144 of the Securities Act. Proceeds from the financing will be used to support Roadzen’s working capital towards achieving positive adjusted EBITDA, including continued deployment of DrivebuddyAI, and driving growth across its key markets. The company continues to target adjusted EBITDA breakeven by the quarter ending December 2025.