Derek Proudian, Pioneer in AI & IoT from Silicon Valley, Joins Newtrax Board of Directors
Montreal – August 14, 2017 — The Board of Directors of Newtrax Technologies, Inc. (‘Newtrax’) today announced the appointment of Derek Proudian as an independent director of the company effective immediately.
Mr. Proudian started his career working alongside the creators of the ARPANET, the first version of the Internet, and took part in the first wave of AI research back in the 1980s. He then started a successful business career where he served as the CEO of six venture-capital backed companies, including Elon Musk’s first company Zip2 which sold to Compaq for over $300 million back in 1999. Other recent high profile success stories where he was involved as a founding board member or CEO include mSpot which was sold to Samsung in 2012 for $50 million, Daintree Networks which was sold to General Electric in 2016 for $100 million, and SquareTrade which sold to Allstate in January 2017 for $1.4 billion.
“Our customers expect us to integrate all latest and greatest technology from other industries as soon as they become available. Our current investor provides us with an excellent global technology watch of the Mining Equipment, Technology and Services (METS) space and Derek will add a direct connection to Silicon Valley. Having him onboard will ensure our strategy for IoT, big data and AI is world-class.” said Alexandre Cervinka, President & CEO, Newtrax.
“I’ve been fortunate to have worked in some very successful technology companies with an array of impressive entrepreneurs. Newtrax is definitely in the same mould. It is a leader in its space, has an exceptional team and a clear vision – to become the dominant player for underground productivity management solutions. I’m very happy to be joining the venture and look forward to working with Alex and his team.” said Mr. Proudian.