Swiss machine learning startup Avrios quietly raised $14m
07.09.2018
Zurich based Avrios has quietly raised $14m during the last 3 years. The startup helps fleet managers to get a better insight on how their vehicles are used, using machine learning.
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The previously unannounced fundings cover a seed round raised in December 2015, a Series A in June 2017 as well as an extension/acceleration funding which closed in July 2018. The funds come from investors such as Lakestar, Notion, Verve-Capital, Siraj Khaliq (Atomico) and Andrew Flett (Fleetmatics).
The Venture Kick alumnus helps vehicle fleet managers process data related to car leasing costs. Its AI-powered platform can automatically ingest and process invoices and leasing documents, even when the data is unstructured and from multiple languages. By analysing this data, Avrios helps its customers understand how their vehicles are being used and optimize the usage of their fleet.
Avrios passed Venture Kick stage 1 back in 2015 and was ranked number 47 in the TOP 100 Swiss Startup Award 2018. Robin Guldener, co-founder of the company, says: “Venture Kick provided a great venue for us to iterate on our messaging and challenged us to put our vision into simple words early on. Thanks to the grant from stage I, we were also able to hire a part-time designer in the beginning when we could otherwise not have afforded such a role.”
The Venture Kick alumnus helps vehicle fleet managers process data related to car leasing costs. Its AI-powered platform can automatically ingest and process invoices and leasing documents, even when the data is unstructured and from multiple languages. By analysing this data, Avrios helps its customers understand how their vehicles are being used and optimize the usage of their fleet.
Avrios passed Venture Kick stage 1 back in 2015 and was ranked number 47 in the TOP 100 Swiss Startup Award 2018. Robin Guldener, co-founder of the company, says: “Venture Kick provided a great venue for us to iterate on our messaging and challenged us to put our vision into simple words early on. Thanks to the grant from stage I, we were also able to hire a part-time designer in the beginning when we could otherwise not have afforded such a role.”