Portuguese startup Stratio - not to be confused with, well, Spanish startup Stratio - has scored €3 million in funding from London-based Crane Venture Partners and LocalGlobe to scale its AI for auto manufacturers, distributors, and fleet owners for preventative maintenance (which the company says comes with a $200 billion price tag in annual expenditure).
In lieu of manual testing, Stratio claims its technology is able to spot anomalies in automotive components to determine the root cause of issues and prevent vehicle downtime. To do this, the startup applies machine learning models that retrieve and analyse millions of data points per vehicle per day (both on the road and in development).
The startup has earlier received support from the European Space Agency and is now gearing up for growth. Stratio already counts MAN, DAF Trucks and VECTIA among its customers.