Uppsala, Sweden, 21 December 2022 - Stream Analyze, a cutting-edge software company, is delighted to announce that it has been awarded a €2.5 million grant from the European Innovation Council (EIC) under the EIC Accelerator funding program.
The grant underscores Stream Analyze's game-changing platform that empowers businesses with dynamic, interactive AI models right at the edge, reducing the need for data transfer and storage. This unique approach provides unparalleled insights into industrial processes and enables swift adaptation to changes, enhancing operational efficiency and reducing costs.
The Stream Analyze Platform is designed to support the development, deployment, and management of analytical AI models across massive fleets of distributed edge devices. By processing data streams in real-time, Stream Analyze provides a clear advantage over cloud-dependent solutions, offering real-time insights and faster time-to-market for new applications and services.
"We're thrilled to receive this significant recognition from the EIC," says CEO Jan Nilsson. "This grant is a validation of our commitment to innovative edge AI technology and our potential to disrupt markets on a global scale. We're excited to leverage these funds to further enhance our platform and extend our market presence."
The EIC Accelerator program supports innovative start-ups and SMEs with potential market-creating products, services, or business models. The EIC recognized 75 innovative companies after a highly competitive process involving over 1000 applications. Stream Analyze was one of the companies selected from 21 countries, with funding allocated in a combination of grants and equity investments through the fully operational EIC Fund.