STRATIO SECURES US$12 MILLION SERIES A FUNDING FOR GROWTH ACCELERATION

KUALA LUMPUR, Dec 1 (Bernama) -- Stratio, the world’s leading real-time predictive fleet maintenance platform has announced a US$12 million Series A funding round to further accelerate its growth. (US$1 = RM4.202)

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 2022-end.

Stratio already has its technology deployed in five of the top 10 transportation companies in the world, enabling transportation for 1.3 billion people so far. The company’s Annual Recurring Revenue (ARR) has grown 2,700 per cent since its Seed investment round while the company has invested an average of 65 per cent 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 daily, 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, analyses, 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 and Rui Sales, President in a statement.

“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.”

-- BERNAMA