Lisbon’s Stratio has raised $12 million in a Series A funding round. The startup uses AI technologies to offer customers real-time predictive fleet intelligence, including maintenance, operations, and optimised fuel efficiency reports, with the ultimate goal of ensuring a zero-downtime future. The startup intended to use the funding to accelerate its R&D efforts, drop the hammer on its time-to-market, and double the headcount by the end of next year. To date, the firm has raised approximately €13.6 million.
Using a powerful combination of IoT and AI, Stratio provides clients with real-time actionable data that not only collects and analyses, potential transportation disruptions but provides fleet managers a detailed report of why such a breakdown might happen. Enlisting this combination, Stratio helps to prevent breakdowns that could cause public transportation delays, postponed deliveries, or late arrival of essential goods.
Already deployed in half of the top 10 transportation companies in the world including RATP and Ford Trucks, Stratio’s technology has helped move over 1.3 billion people thus far, with zero interruptions to their regularly scheduled programming, and reports an ARR of 2700% with an average of 65% of its budget allocated to research and development during the same time frame.
“Stratio’s contribution to zero downtime impacts the global economy and people’s lives every single day. Real-time predictive fleet maintenance provides a magnified look that leads to better planning and better decisions. That means higher quality and cheaper public transportation, on-time deliveries while serving more customers at a lower cost,” commented Stratio co-founders, Ricardo Margalho and Rui Sales in a joint statement.
“Stratio’s technology fascinated us right from the beginning. Not only are they far advanced in terms of datasets uniqueness - which virtually allow them to work with any fleet across the globe - but they also have been growing at an incredible pace,” commented Forestay’s Frederic Wohlwend. “Their R&D investment over the last few years makes them industry front runners and they are very well placed to massively scale a piece of technology that has ramifications across the entire global economy and will certainly impact how everything moves on the planet.”