GlobeNewswire by notified

Stratio raises $12M Series A to Scale AI-based Predictive Fleet Maintenance Platform using Real-time Augmented Intelligence

Share

Investment led by Forestay with participation from existing investor Crane Venture Partners to be used to further accelerate global expansion, increase R&D, boost product development, and double headcount by the end of 2022

LISBON, Portugal and LONDON, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Stratio, the world’s leading real-time predictive fleet maintenance platform, today announced a $12M Series A funding round to further accelerate its growth. The investment, led by Forestay Capital, the Deep Tech and SaaS Venture Capital arm of Waypoint Capital, with participation from existing investor Crane Venture Partners, will be used to further accelerate the company’s global expansion, increase its R&D, speed up overall time-to-market, and double its headcount by the end of 2022.

Stratio already has its technology deployed in 5 of the top 10 transportation companies in the world and has enabled transportation for 1.3 billion people so far. The company’s Annual Recurring Revenue (ARR) has grown 2700% since its Seed investment round while the company has invested an average of 65% of its budget in R&D since that same period.

Stratio’s AI-based predictive fleet maintenance prevents 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. Downtime becomes a critical problem for fleets responsible for food, medicine, or healthcare supplies transportation. Hospitals, pharmacies, or supermarkets are just a few examples of businesses that are heavily dependent on reliable transportation services.

By harnessing the power of data, and using augmented intelligence, Stratio provides real-time actionable insights through a scalable platform that collects, analyzes, and explains when the next breakdown will happen. Its fully explainable AI system allows fleet managers and operators to easily understand the reasons behind each potential breakdown, thus moving away from a reactive maintenance approach that leads to vehicle downtime, lost revenue, unhappy customers, and a damaged reputation.

“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,” said Stratio’s co-founders, Ricardo Margalho, CEO andRui Sales, President. “Stratio’s technology is empowering fleet operators across the globe by providing them the most comprehensive and easy-to-manage platform in this space. We believe that this technology will soon be available to every vehicle around the world and that enabling a zero downtime future will change transportation as we know it.”

Stratio has customers across EMEA, US, LATAM, and APAC, and has expanded its footprint 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.

“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,” said Frederic Wohlwend, Managing Partner at Forestay. “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. We’re thrilled to be partnering with Ricardo Margalho and Rui Sales, and the rest of the talented Stratio team on this next chapter of their growth.”

The combination of large-scale processing, autonomous AI system, and individual vehicle data collectors allows businesses to fully leverage the data under the hood. The combination of AI and IoT results in a feedback loop that feeds itself continuously and helps the system improve automatically without human intervention. By providing a real-time view on potential electric, mechanical, and system failures, Stratio offers a zero downtime solution to businesses where costs can quickly mount while service quality dramatically decreases affecting transportation services on which people rely.

Stratio’s technology also has a big impact on zero-emission transition for transportation companies. The company has been working with several large fleet operators in deploying its predictive maintenance technology to help companies ensure zero downtime while operating this cleaner form of transportation. Transitioning to a fully electric fleet requires twice the investment when compared to standard internal combustion vehicles. In order to justify the ROI tied to the costly initial investment, transportation services must operate vehicles much longer and intensively when compared to traditional fleets. Predictive maintenance is the critical final piece to keep vehicles off the workshop and on the road, enabling the economic viability that is needed for zero-emission vehicles’ mainstream adoption.

About Stratio
Stratio is the World’s Leading Real-time Predictive Fleet Maintenance Platform. The company’s proprietary technology combines large-scale processing with the latest 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. Stratio’s platform enables zero downtime for 5 of the 10 largest transportation companies in the world. Fleet operators in Europe, US, Asia-pacific, and Latin America trust Stratio’s technology to fully leverage the data under the hood to safeguard operations, and keep customers happy. Stratio’s technology has enabled transportation for 1.3 billion people so far.

About Forestay
Founded in 2017, Forestay invests in the tech sector and is focused on innovative revenue-generating technology companies, in Europe, Israel and the US, that challenge established models, primarily through software and data. It is part of Waypoint Capital, chaired by Ernesto Bertarelli, which supports a broad portfolio of leading asset management and investment businesses. www.forestay.vc

Contacts

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Stevie® Awards Announce Winners in 19th Annual International Business Awards® from Across the Globe15.8.2022 13:00:00 CEST | Press release

3,700 Nominations Were Submitted from Organizations in 67 Nations FAIRFAX, Va., Aug. 15, 2022 (GLOBE NEWSWIRE) -- High-achieving organizations and executives around the world have been recognized as Gold, Silver, and Bronze Stevie® Award winners in The 19th Annual International Business Awards®, the world's only international, all-encompassing business awards program. Winners were selected from more than 3,700 nominations submitted by organizations in 67 nations. A complete list of all 2022 Gold, Silver and Bronze Stevie Award winners by category is available at www.StevieAwards.com/IBA. More than 300 executives worldwide participated on 11 juries to determine the Stevie winners. The top winner of Gold, Silver, and Bronze Stevie Awards is HALKBANK of Istanbul, Turkey with 32. Other winners of multiple Stevie Awards include IBM Corporation (21), LLYC (20), Deutsche Post DHL (19), Abu Dhabi Ports Group (17), Viettel Group (17), OPET (15), Telkom Indonesia (13), ZER (13), Ayala Land Inc.

Bergman & Beving acquires Polartherm15.8.2022 13:00:00 CEST | Press release

Press release Bergman & Beving acquires Polartherm Bergman & Beving has today acquired 80 per cent of the shares in Polartherm Group. Polartherm is a leading player within powerful, mobile heaters for certain niches within industry, construction and aviation. Polartherm has an annual revenue of approximately MEUR 12 with good profitability. The business is based in Luvia and Kokemäki in Finland and has 57 employees. ”Polartherm has a market leading position within mobile heaters with impressive customer base within inter alia the aviation and defence sectors around the world. Our ambition with the company is now to further enhance the growth journey which the company’s management has already initiated”, says Oscar Fredell, Head of Division Tools & Consumables. “We are looking forward to joining Bergman&BevingGroup. Due to its long-term and stable position we consider it a suitable majority owner for Polartherm going forward”, says the managing director and part-owner Pasi Anttila who w

Bergman & Beving förvärvar Polartherm15.8.2022 13:00:00 CEST | Pressemelding

Pressmeddelande Bergman & Beving förvärvar Polartherm Bergman & Beving har idag förvärvat 80 procent av aktierna i Polartherm Group. Polartherm är en ledande aktör inom kraftfulla, mobila värmeaggregat för nischområden inom industri-, bygg- och flygbranscherna. Polartherm omsätter cirka 12 MEUR per år med god lönsamhet. Verksamheten är baserad i Luvia och Kokemäki i Finland och har 57 anställda. ”Polartherm har en marknadsledande position inom mobila värmeaggregat med en imponerande kundbas inom bl.a. flyg- och försvarssektorerna runtom i världen. Vårt mål med bolaget blir nu att förstärka den tillväxtresa som bolagets ledning redan påbörjat”, säger Oscar Fredell, divisionschef Tools & Consumables. ”Vi ser fram emot att bli en del av Bergman&Bevingkoncernen. Med sin långsiktiga och stabila position ser vi dem som en lämplig huvudägare för Polartherm framåt”, säger VD:n och delägaren Pasi Anttila, som fortsätter som VD och minoritetsägare i bolaget. Polartherm kommer att ingå i division

Nordic American Tankers Ltd (NYSE: NAT) – Update on contracts15.8.2022 12:36:19 CEST | Press release

Monday, August 15, 2022 Dear Shareholders and Investors, Below are the latest contracts for our suezmax ships, showing the level of the market. The rates we experience now are far above recent quarters. 12th Aug.: Vessel fixed on subjects to US Oil Major for voyage from Mediterranean to Asia. Time Charter Equivalent (TCE) about USD 60,000 over 35 days 12th Aug.: Vessel fixed on subjects to Asian interests for voyage from AG to Singapore. Time Charter Equivalent (TCE) about USD 19,000 over 36 days 4th Aug.: Vessel fixed to Asian interests for voyage cross Mediterranean. Time Charter Equivalent (TCE) about USD 40,000 over 15 days 3rd Aug.: Vessel fixed to Asian interests for voyage from Red Sea to Asia. Time Charter Equivalent (TCE) about USD 21,500 over 45 days 28th July: Vessel fixed to Asian interests for voyage from AG to Singapore. Time Charter Equivalent (TCE) about USD 46,500 over 26 days 25th July: Vessel fixed to American interests for voyage (positioning voyage) from AG to US G