Finnish scaleup Streamr is the creator of a cloud-based platform where companies and developers can easily create real-time micro-services and streaming analytics. Eager to grow their business across Europe, Streamr has joined the EIT Digital Accelelator programme to help build their network and to attract new clients.
Founded in 2014, Streamr provides an end-to-end data pipeline from the initial reception and storage of real-time data to processing, calculation of streaming analytics, distribution and automation. Their solution is particularly targeted at sectors where real-time data is generated constantly, like Internet-of-Things (IoT), Industrial Internet-of-Things (IIoT), Industry 4.0 (the latest trend of automation and data exchange in manufacturing), smart cities, building automation, and smart traffic.
The Streamr concept was born when its founders realised that the exponential growth in real-time data meant that the world was quickly moving towards an algorithmic economy. The founders were all algorithmic traders, and had witnessed a similar transition take place in the financial markets some 10 - 15 years ago. Being experienced coders, they decided to build a platform which allowed for easy development and deployment of scalable streaming analytics and real-time decision rules. There wasn't anything similar already on the market, and certainly not in the price bracket that Streamr could offer to its clients.
Streamr's clientele consists of software developers, data scientists, and data engineers. Existing customers include as Rolls-Royce (marine technology), Alma Talent, and Google Digital News Initiative. In addition to the developer community, Streamr sees the enterprise market as a highly relevant source of future clients.
Henri Pihkala, CEO of Streamr, said:
"Building an ecosystem and attracting new clients is crucial for our growth, and this is where we see great potential in EIT Digital's European partner network. On a parallel track, we will probably need additional financing to support our growth. In this respect, access to finance and the channels to the European investor base that EIT Digital can open up for us are of particular interest."
"It is also the case that many other accelerators are geared up to serve early stage startups, and we've kind of moved beyond that. Given that scaleup companies are the main focus of EIT Digital, there was a good match."
Streamr will join EIT Digital's Digital Infrastructure Action Line, focusing on enabling digital transformation by providing secure, robust, responsive and intelligent communications and computation facilities for markets. Digital Infrastructure targets in networking the mobile broadband infrastructure, network softwarisation, and the Internet of Things; in computing: cloud computing, Big Data, and Artificial Intelligence; in security: privacy, cyber security, and digital ID management.
Last November Streamr took the third prize in the Digital Infrastructure category of the 2016 EIT Digital Challenge.