Stratio Automotive, a Portuguese tech company coming out of stealth to scale its AI for auto manufacturers, distributors, and fleet owners for preventative maintenance, raised €3M in seed funding.
The round was led by Crane Venture Partners with participation from LocalGlobe.
The company intends to use the funds to expand across Europe and the US.
Co-founded by Rui Sales and Ricardo Margalho, Stratio brings the benefits of AI to the automotive industry to prevent vehicle downtime. Instead of manual testing, the company’s AI detects anomalies in automotive components to determine the root cause of issues and prevent them. Its machine learning models retrieve and analyse millions of data points per vehicle per day to vehicles in development and on the road. By comparing the real vs. expected behaviour of vehicle components, Stratio improves automated testing and predictive intelligence that can assess the vehicle’s condition and detect early anomalies and failure. The company works with OEMs during the vehicle testing phase to identify issues and their root cause to get more reliable vehicles to market faster, lower warranty claim fraud costs and expand aftersales revenues.
Stratio, which employs over 50 people, already serves customers such as MAN, DAF Trucks and VECTIA, among others.
FinSMEs
09/05/2019