Stratio, a Lisbon, Portugal and London UK-based predictive fleet maintenance platform, raised $12M in Series A funding.
The round was led by Forestay Capital with participation from Crane Venture Partners.
The company intends to use the funds to further accelerate growth and expansion, increase its R&D, speed up overall time-to-market, and double its headcount by the end of 2022.
Co-founded by Ricardo Margalho, CEO, and Rui Sales, President, Stratio provides a Predictive Fleet Maintenance platform that combines large-scale processing with machine learning techniques to prevent hundreds of thousands of breakdowns from happening every day, thus saving millions of people from the hassle of public transportation delays, postponed deliveries, or late arrival of essential goods.
The company has customers across EMEA, US, LATAM, and APAC, and has expanded its presence to strategic markets such as North America, Australia, Brazil, and Mexico. Some of its key clients include Ford Trucks, Arriva, Keolis, RATP Dev, Go-Ahead, ComfortDelGro, and many more. Fleets using Stratio’s technology circle the globe 20 times each day while the platform processes more than 5 billion data points.