Compredict receives 5.5 million euros

The start-up's sensors are designed to simplify the diagnosis of vehicle parts. Blackberry has now invested in the technology.

Compredict has closed funding of €5.5 million. Vektor Partners and Blackberry Limited co-led the funding round.

Rafael Fietzek and Stéphane Foulard founded Compredict in Darmstadt, Germany, in 2016. The startup has developed virtual sensors that can analyze the wear and tear of a vehicle's safety-critical components and estimate the lifespan of brakes, tires and batteries. This enables vehicle manufacturers and fleet operators to identify problems in good time and avoid vehicle breakdowns. The start-up has already signed several contracts for pre-production and production vehicles.

The two new investors will also support Compredict's further growth as strategic partners. "As a strategic investor, Blackberry offers synergies with its IVY platform, which gives us a competitive advantage by enabling us to seamlessly integrate our virtual sensors directly into vehicles," said Compredict CEO Stéphane Foulard. "Vektor Partners is the perfect growth hacking partner for us: they bring a lot of experience, understanding and vision in technology and business, as well as a broad network, coupled with a deep understanding of our technology and our unique selling points."

Compredict plans to use the capital from the funding round to deepen its collaboration with automotive manufacturers and fleet operators and expand into new markets.