Emerald buoys AI-enabled shipping as partner Nabtesco acquires DeepSea

Zürich, Switzerland: Cleantech venture capital pioneer Emerald Technology Ventures has facilitated the acquisition of DeepSea, a maker of intelligent maritime control systems, by Nabtesco, a world leader in motion control technologies. The deal marks the first acquisition of a portfolio company by one of Emerald’s corporate venture capital-as-a-service (CVCaaS) clients. It is a significant milestone in the development of CVC as a catalyst for sustainable innovation in maritime services and beyond.

Nabtesco Corporation’s President, Kazumasa Kimura, met with Prime Minister Mitsotakis and Finance Minister Hatzidakis in Athens on September 5, 2023. The gathering included Mr. Fragkogiannis, the Deputy Minister of Foreign Affairs, Mr. Tzortzakis, the Executive Vice Chairman of the Hellenic Development Bank, and other key officials. Additionally, Mr. Nakayama, Ambassador of Japan, attended the meeting, representing the Japanese government. From Nabtesco Corporation, Mr. Kiriyama, Executive Officer, and Mr. Nerima, Executive Officer and Managing Partner of Nabtesco Technology Ventures, were present. Dr. Kyriakopoulos, CEO, and Mr. Coustas, President, were there to represent DeepSea Technologies.

Under Emerald’s unique CVC-as-a-service model, Emerald manages the entire deal flow of Nabtesco’s CVC arm, Nabtesco Technology Ventures. Its team of sector specialists assesses the potential of promising startups and recommends investment strategies. Under this partnership, which has been in place since the end of 2018, Emerald has facilitated eight deals for Nabtesco, including an initial investment into DeepSea in 2021.

DeepSea will join Nabtesco Marine in developing the platforms and tools required to achieve its goal of scalable semi-autonomous shipping. It will also pursue artificial intelligence (AI)-focused research and development covering the entire scope of Nabtesco’s activity. DeepSea will continue to focus on the development of its established software platforms that enable shipping companies to decrease fuel consumption and emissions by optimizing vessels and voyages.

The Emerald-Nabtesco partnership helps the Japanese conglomerate—which aims to be carbon-free by 2050—meet its sustainability and transformation goals. DeepSea’s easy-to-implement solutions for AI-enabled shipping are part of a broader push to clean up the maritime industry, one of the world’s hardest-to-decarbonize sectors.

Under the terms of the deal, DeepSea will retain its team, premises and independent brand identity, and will continue to be a self-directed research center for the development of applications and products based on AI.

“Pressure to decarbonize will intensify across the marine industry for the foreseeable future, and DeepSea is a technological leader in routing and performance optimization of seagoing vessels—a key lever for emissions reductions,” says Emerald Investment Director Mehran Zaker. “The strong strategic synergies between Nabtesco and DeepSea will enhance the potential for both companies’ cutting-edge technologies to change the industry for the better.”

Read more about the collaboration between the Greek Government and Nabtesco: Nabtesco Corporation President Kazumasa Kimura meets with Greek Prime Minister Mitsotakis

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm founded in 2000, that manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm invests in start-ups that tackle big challenges in climate change and sustainability, with 4 current funds, hundreds of venture transactions and four third-party investment mandates, including loan guarantees to over 100 start-ups.

Bold Ideas. Bright Future.  www.emerald.vc



About Nabtesco

Nabtesco Technology Ventures is a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation, in partnership with Emerald Technology Ventures, a global leader in technology venture capital. The fund deepens Nabtesco’s involvement in the development of disruptive ventures around the world, strengthening our pursuit of open innovation, a key pillar of our company’s growth strategy. The EUR 75 million fund invests primarily, but not exclusively, in robotics, motors, sensors, additive manufacturing, artificial intelligence, and Internet of Things technologies. Nabtesco Technology Ventures reinforces Nabtesco Corporation’s position as a global leader in manufacturing technology, accelerating investment and collaboration around the world. For more information, please visit Nabtesco Technology Ventures – Targeted Technology Innovation (nabtesco-ventures.com)



About DeepSea

DeepSea harnesses the latest in AI technology to make ships more efficient. Bringing together experts from technology and maritime, DeepSea focuses on increasing the efficiency and decreasing the fuel consumption of vessels through a combination of technical and operational insights powered by detailed AI-generated performance models. We work with forward-thinking shipping companies to make the shipping industry leaner, greener and better connected. For more information, please visit https://www.deepsea.ai/