Stratio intends to cash in on the $200 billion predictive maintenance industry by infusing machine learning models into automobiles. While the automotive industry is abuzz with driverless cars and assistive technologies, Stratio is proving that there is another sphere in this ginormous industry that AI can be applied — that in predictive maintenance by leveraging machine learning capabilities.
The company is bridging machine learning with vehicles in order to extract meaningful data by analyzing a large number of touch points in one vehicle on a day-on-day basis. Currently, Stratio works with original equipment manufacturers (OEMs) to curtail faults at the testing level itself. This ensures the reduction of fraudulent insurance claims, gets products to markets faster and drivers revenues from aftersales.
Founded in 2017, the company has support from the European Space Agency. Stratio has been named in the top three disruptive technologies by the EU commission in the automotive industry.
Rui Sales and Ricardo Margalho, co-founders of Stratio explained, “The idea came to us when our bus broke down and we missed what could have been a career-changing meeting in New York. We set out to build a machine learning product suite that analyses high-density vehicle data in real time to prevent vehicles from breaking down.”
Krishna Visvanathan, Partner at Crane Venture Partners, commented: “Stratio Automotive is one of the most exciting companies in our portfolio of data-driven enterprise software businesses, it has the trifecta of a super product, a deep data moat coupled with AI expertise and great traction.”
Currently, the company’s clients include –
- DAF Trucks
Stratio has raised more than $3 million so far to expand into key markets such as APAC, EMEA, MENA, etc. The company is projected to have 500% spike in revenues and guarantees to majorly disrupt the automotive industry.
Read More: The Artificial Intelligence Week