FleetBrains, an Estonian AI startup focused on optimising automotive inventory management, has started its operations and secured €800,000 in funding from international venture capital firm Icebreaker.vc, reports Baltic Times. The investment will help the company to build and expand its AI-driven solutions that address critical challenges in the automotive industry.
Founded by Martin Piirmaa, Rutmar Silde (an AI expert with 10 years of experience), and Tauno Laja (ex-Bolt Drive), FleetBrains has developed a platform that uses artificial intelligence to transform how automotive businesses manage their vehicle inventories and fleet operations.
“Our solution forecasts in real-time when, which, and at what price companies can most profitably buy or sell vehicles to maximise profits,” explained Piirmaa. “The system identifies model versions or configurations in higher demand in the market and flags vehicles at risk of remaining unsold in warehouses.”
With each passing year, this problem becomes more acute as companies struggle with overstock issues and slow fleet sales.
The company’s technology addresses several critical pain points:
- Predictive pricing using big data analytics
- Automated stock redistribution across multiple locations
- Real-time market intelligence with granular demand pattern tracking
- Optimised fleet sales for returned vehicles
According to Piirmaa, FleetBrains has already analysed nearly 300,000 vehicle sales transactions worth approximately €10B, which now allows to make highly accurate market forecasts. The investment from Icebreaker.vc, which operates under the InnovFin Equity initiative and the European Strategic Investment Fund, will help to solidify the initial success.
As part of its growth strategy, FleetBrains will also begin collaborating with the University of Tartu‘s Institute of Computer Science starting next month, further enhancing its AI capabilities and research efforts. Estonia, which has been recognised as Europe’s best AI ecosystem, offers an ideal environment for leveraging academic research and industry expertise.
Read more about the business opportunities Estonia offers and send us an e-Consulting request to get more detailed information.
