Forestay Capital’s newest investment has seen it lead a $12m Series A round in Stratio, whose exciting proprietary fleet maintenance technology combines large-scale processing with the latest machine learning techniques to prevent hundreds of thousands of vehicle breakdowns from happening every day. Stratio’s platform already enables zero downtime for five of the ten largest transportation companies in the world and is primed for further growth.
“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,” says Frederic Wohlwend, Forestay’s Managing Partner.
“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”
Forestay led the Series A round, with participation from existing investor Crane Venture Partners. The funding will be used by Stratio to further accelerate the company’s global expansion, boost product development, speed up overall time-to-market, and double its headcount by the end of 2022. There is more on Forestay’s investment here.