Neomatix, an Israeli start-up specializing in computer vision and big data analytics for vehicle tires, was announced the winner in Shell’s Bright Energy Ideas Challenge. Out of 219 mobility start-ups from 36 countries, Neomatix received a prize of €25,000 in cash and a €100,000 convertible loan.
According to Geert van de Wouw, Managing Director of Shell Technology Ventures, the winning start-up was selected thanks to its potential effect on sustainability and road safety, both now and in the foreseeable future.
The young start-up’s patented technology, which uses Computer Vision and Deep Learning algorithms, is disrupting the way tires are managed in trucking fleets.
Kfir Wittmann, Founder and CEO of Neomatix, explains, “Fleets waste billions of dollars every year due to tire negligence, which affects roads safety as well as environmental issues. Despite the highly competitive landscape, no solution showed a high acceptance rate yet.”
“The beauty about Neomatix is that it is easy to adopt and implement, regardless of fleet size, and also very simple to maintain and use in the daily process of a fleet like ours,” says Urubatan Helou Jr., Fleet Director at Braspress Transportes Urgentes (BTU), one of Brazil’s leading parcel delivery companies, which operates thousands of trucks throughout the country, and Neomatix’s first customer. “We have tried every tire monitoring solution before adopting the Neomatix system. The information provided by the system is straightforward, actionable and very focused. We already see the effect on our bottom line. This is exactly the management solution we were looking for.”
The company has already raised $3 million from the Tel Aviv Angel Group and the Brazilian fleet management company SmartDrive; and is an alumni of Coca-Cola’s commercialization program, “The Bridge,” addressing the supply chain challenges of the popular beverage company.