Estonian AI Startup Secures Nearly One Million Euros from Icebreaker.vc

Fleetbrains, an Estonian AI startup developing solutions for the automotive industry, has raised €800,000 from the international investment fund Icebreaker.vc.

Fleetbrains focuses on solutions that optimize real-time management of new and used car inventories and vehicle fleets. “Our solution forecasts in real time when, which, and at what price companies can most profitably buy or sell vehicles or their fleet to maximize profits. For example, the system identifies model versions or configurations in higher demand in the market and those vehicles at risk of remaining unsold in warehouses,” explained Martin Piirmaa, founder of Fleetbrains. He is joined by co-founders Rutmar Silde, a 10-year AI expert, and Tauno Laja, who has a background as a fleet manager and experience in business development for Bolt Drive.

According to Piirmaa, there is significant demand in the automotive industry today for data-driven decision-making mechanisms, and investor interest confirms that no similar solutions currently exist in the market. “We have analyzed nearly 300,000 vehicle sales transactions worth approximately €10 billion and can already make highly accurate forecasts based on this data,” Piirmaa added.

As part of a newly signed agreement, Fleetbrains’ team will also begin collaborating with the University of Tartu’s Institute of Computer Science starting in February.

Icebreaker.vc is an international venture capital firm supporting early-stage technology companies. It operates under the InnovFin Equity initiative and the European Strategic Investment Fund, aiming to foster innovation and investment within the European Union.

Fleetbrains is an Estonian AI startup that develops artificial intelligence solutions for the automotive industry to optimize real-time management of new and used car inventories and fleets. The company provides accurate forecasts for market trends and profitable models. Fleetbrains’ solutions help increase sales margins, reduce aging inventory, and boost revenue, bringing data-driven decisions in the automotive industry to a new level.