Artificial Intelligence or AI is used for accomplishing so many tasks that it might be near impossible for someone to list all of them. From our phones, to smart homes and to almost every piece of technology there is, AI is being used in one form or another. Automative sector no stranger to the use of AI and the startup Stratio is making some big waves in the segment. The company has attracted limelight with what might be the biggest seed deals in Portugal. Here are three things you should know about the company.
What is Stratio
Stratio is a big-data startup based out of Portugal that uses data collected from vehicles for predicting faults even before they occur. Yes, that’s right. The company found a way to analyse data to forecast when a component in a running vehicle might break down. Some of you might be picturing an image in mind of your car automatically notifying you about any component that’s about to give out. However, there is still some time before the technology will be made available for the masses since Stratio is currently working with fleets, distributors and OEMs.
Stratio came into existence in 2017. It is recognised for its work by the EU Commission and received technological support from the European Space Agency. The company has its own AI engine called Stratio Cortex, and offers it with the aim to apply machine learning models to realise a “zero downtime” future.
It was natural that Stratio would be noticed. The startup has now raised €3.13 million in VC round from London-based Crane VC and LocalGlobe, a fellow London VC also participated for the funding. The round is said to be one of the largest ever seed deals in Portugal and perhaps the biggest deep tech investment in the country.
How Stratio’s tech works
Stratio explains its technology in three simple steps, which consists of acquisition of ‘high-density’ vehicle data, predictive analysis of this data by AI and generation of insights and alerts in real-time. For vehicle manufacturers, the company’s service is said to enable value addition to their products, prevention of recurring faults, reducing warranty costs, and proactive sales of maintenance and repair services. Vehicle operators can benefit from the tech as well as it enables early fault detection, which, with prioritisation of repairs and breakdowns, results in reduced downtime.
Everything begins with the collection of data, which Stratio does with its Databox that is installed in a vehicle. It collects and streams data points in real time from batteries, engine, braking system, doors, transmission, suspension, HVAC, gearbox, and other available systems. One thing to note here is that the company’s platform is compatible with pre-existing data collection systems, which means manufacturers and operators who already have a data box in place and start using Stratio’s system immediately.
The data sent by the databox is analysed continuously by Stratio’s self-developed and patented machine learning algorithms and as per the fault detection rules created by automotive engineers. Insights are mined from this data, along with faults and anomalies to asses a vehicle’s performance and condition in real-time. The company offers a web-interface where notifications, alerts, insights and faults are displayed, which means no client-side software installation is required. Additionally, users can be notified of anything the system detects via email and/or SMS.
Stay tuned to Silicon Canals for more updates in the tech startup world.