Emerald investment to boost Sea Machines’ autonomous shipping solutions

Zürich, Switzerland: Cleantech venture capital pioneer Emerald Technology Ventures has invested into Sea Machines, a developer of autonomous shipping solutions, control systems and advanced perception technology for maritime vessels. This USD 12 million funding round, which was joined by Nabtesco Technology Ventures (NTV), Chevron Technology Ventures, RKKVC, Level 2 Ventures, and IMC Ventures, will help Sea Machines hone its technological edge and grow its market presence.

Boston-based Sea Machines Robotics is a global leader in autonomous piloting systems. These systems are meant to help sea vessels navigate and operate with greater efficiency, productivity, and capability. Its proprietary technology allows onboard computers to maintain precise control of vessel position, steering, and speed during a voyage. It can also reroute as needed to avoid traffic and obstacles, and use streaming data to improve operations. The startup also develops solutions for computer vision, remote command and control, and advanced data collection along shipping routes, among other applications.

Sea Machines logo

Sea Machines’ innovations are helping it grab a share of the fast-growing market for autonomous shipping solutions, an increasingly important enabler of resilience for the maritime sector—itself the foundation of most global trade. One estimate pegs growth in the autonomous ships sector at 9.6% annually between 2022 and 2030.

Key considerations behind the shift toward autonomy include cost pressures, labor shortages, safety, fuel savings and greenhouse gas reductions. The latter is a particularly pressing concern for shipping, given the challenges of decarbonizing the sector—an area that Emerald is actively engaged in. While clean fuels like hydrogen could potentially serve as a long-term catalyst for a greener industry, they will need to be paired with leaps in operational efficiency along the lines of Sea Machines’ solutions in order to help the sector achieve Paris Agreement-aligned emissions reductions.

Emerald has a robust track record funding startups that are pushing the envelope on industrial efficiency as a lever for achieving climate and sustainability goals. Recent deals in this space include investments into wind turbine optimizer eologix and agriculture disruptor xFarm.

Japan-based NTV is the venture arm of Nabtesco, a leader in industrial technology solutions, and is one of Emerald’s corporate venture capital-as-a-service clients. Under this arrangement, Emerald manages NTV’s deal flow and advises it on the best investments to match its needs and strategic priorities.

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

CONTACT FOR EMERALD:

info@emerald.vc

About Sea Machines Robotics

Headquartered in the tech hub of Boston and operating globally, Sea Machines Robotics, Inc. is the leader in pioneering autonomous command and control and advanced perception systems for the marine industries. Founded in 2017, the company builds autonomous vessel software and systems, which increases the safety, efficiency, and performance of ships, workboats, and commercial passenger vessels. Learn more about Sea Machines at www.sea-machines.com.

CONTACT FOR SEA MACHINES:

Phil Bourque, VP of Global Sales, pbourque@sea-machines.com