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Out of stealth, Stratio emerges with predictive AI to stop your bus from breaking down

Remember that future we were promised where our car magically tells us that we’re about to break down? Or actually never does? Or that the pickup truck arrives before the rider even knows something is wrong? That future is arriving. But like many things, the pragmatic reality is that this technology starts to arrive in the fleet management industry before it arrives for consumers.

The marketplace for mend of fleets of buses and trucks is worth $200 billion in annual expenditure, so as you can imagine, it’s a juicy sector to get into. In Portugal, a group of entrepreneurs and scientists assembled to look into this and came up with a captivating startup that is now attracting the attention of investors.

Today, Stratio is emerging from stealth to aid OEMs, distributors and fleets merit from AI-driven predictive intelligence.

The concept is to registerly appliance learning models that retrieve and analyze millions of data points per car per day to vehicles both in development and on the street. It turns out that if you compare the real versus the expected behaviour of the actual car elements themselves, you can upgrade automated testing and predictive intelligence that can assess the car’s condition. Then you can detect early anomalies and failures. This is exactly what Stratio does.

It does this by putting a sensor box-of-tricks under a car, like a bus. This box connects with existing sensors in the car using the existing API — something crucial for OEMs. Using proprietary appliance learning, it can predict when something will break, days ahead of moment. Most existing boxes like this only track venue, not analytics.

Stratio also works with OEMs during the car testing phase to identify issues and their root cause to get more reliable vehicles to marketplace faster, lower the potential for warranty bay deception costs and diversify the after-sales revenues. It’s a triple whammy in cost savings.

Stratio has now attracted a $3.5 million VC circular from London-based Crane VC, with participation from fellow London VC, LocalGlobe.

The circular is one of the largest ever seed deals in Portugal and potentially the largest enterprise/deep tech first investment in the country.

It has a proprietary AI motor, Stratio CortexTM, and technology assist from the European Space Agency. Ultimately the aim is to registerly appliance learning models and enable the so-called “zero downtime” future.

Rui Sales and Ricardo Margalho, co-founders of Stratio, say the concept for Stratio came to them when their bus broke down and they missed what could have been a career-changing meeting in brand-new York: “Knowing that today’s existing vehicles produce a massive amount of data, we set out to build an appliance learning product suite that analyses high-density car data in real moment to predict and prevent vehicles from breaking down.”

Stratio launched in 2017, after receiving technological assist from the European Space Agency and earning recognition from the EU Commission.

Alongside the co-founders is Rune Prytz, a former Volvo Trucks research engineer in appliance learning and large data, who now leads all of Stratio’s efforts in AI. Stratio now counts MAN, DAF Trucks and VECTIA as customers, among others.

Krishna Visvanathan, partner at Crane quest Partners, commented, “Stratio Automotive is one of the most mind-blowing companies in our portfolio of data-driven enterprise program businesses. It has the trifecta of a super product, a deep data moat coupled with AI expertise and impressive customer traction.”

So far, Stratio has attracted customers and operations in more than 10 key markets across Europe, the U.K., U.S., India and Singapore.

Source
TechCrunch
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