Stratio raises $12 million in Series A funding round

  • ECO News
  • 30 November 2021

Present in Europe, North America, Latin America and Asia, Stratio is entering a "new phase of global growth, aiming to further develop the platform".

Portugal’s Stratio has raised $12 million (about €10.6 million) in a Series A funding round. With this capital injection, the leading real-time predictive fleet maintenance platform intends to accelerate its R&D efforts and double the team by the end of 2022″ to 120 people.

“We have the world’s most disruptive product for the transport industry. With this investment we want to attract engineers from different fields to continue this development, thus contributing to zero downtime that affects the global economy and people’s lives every single day. Stratio’s 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,” explain Stratio’s co-founders, Ricardo Margalho (CEO) and Rui Sales (president), quoted in a statement.

The round was led by Forestay Capital, the Deep Tech and SaaS Venture Capital arm of Waypoint Capital, with the participation from existing investor Crane Venture Partners.

Launched in 2017, the Portuguese tech company does real-time predictive fleet maintenance using Artificial Intelligence, working with “5 of the top 10 transport companies in the world”, which helps them avoid delays or postponed/late arrival of deliveries.

By the end of 2022, Stratio intends to “double the number of employees”, from the current 60 to 120, “to meet the new technological challenges in the transport sector”.

Present in Europe, North America, Latin America and Asia, the company is entering a “new phase of global growth, aiming to further develop the platform”.