RoadEO, which is our Startup of the week, is developing a global road quality monitoring and prediction platform advising public and private road maintenance organisations when and where the next road segment needs to be maintained. We are doing this by combining existing data and sensor sources from space and from the ground with the goal of improving maintenance efficiency while increasing road comfort and safety.
How and when did the idea of your startup arise?
We started our company in 2017 with a very different proposition which we invalidated through some painful iterations. Some things were sticking though such as the idea of using your smartphone as a smartsensor. In 2018 we finally found the application which seemed to be both impactful and lucrative: road quality monitoring and prediction! Within a short time we found launching customers and great partners who supported our idea and allowed us to gain traction and here we are!
Which problem does your company want to solve?
Road maintenance organisations struggle in the transition from corrective to predictive maintenance which could save them up to 50% in time and money. The reasons are lack of tools, knowledge and especially more frequent and relevant data. Furthermore, increasing traffic loads as well as climate change accelerate the deterioration process of roads and will increase maintenance cost significantly leaving a multi-billion Euro gap in municipal, provincial and national budgets. These trends amplify the need to develop and implement affordable new solutions to ensure road comfort and safety for all its users.
Which is your value proposition?
To tackle this challenge, RoadEO is developing an innovative road quality monitoring and prediction platform which advises our clients when and where the next road segment needs to be maintained with the goal of reducing maintenance efforts, improving road safety, and decreasing CO2 emissions.
Why is Data so important for your business?
Data is the fundament of our proposition since we want to offer our clients data-driven maintenance decision tools which so far haven’t been available. We decided to make use of globally available data and sensor networks such as satellites, smartphones and in-vehicle sensors which allows us to create a service which can be used all around the world.
Which are the main benefits of using your products/services?
The main benefits of our service is reliable, near real-time, and affordable insight into the current state of the road network which brings big-data into a so far very traditional industry. This new data source can then be leveraged for predictive analytics which is the holy grail for every asset manager.
Which are the main challenges that you are facing today?
We decided to develop a scalable tech platform rather than applying and conducting one project after another. As such we are dependent on venture capital which represents a challenge by itself in finding the right partners sharing the same vision with our team.
What do you expect from Data Market Services?
We expect Data Market Services to help us promote our venture, find suitable investors and accelerate our technical development through its services and network.
Have your startup recieved some awards or recognitions?
We won several grants and pitching prizes throughout the years while being accepted to the Global Entrepreneurship Summit in 2019 has been the biggest recognition so far.