Vessel performance AI business DeepSea raises extra $5m in funding

Press Release: DeepSea Technologies, the leading maritime technology specialist in vessel performance monitoring and optimisation, has secured €5 million in fresh funding from existing and new investors.

As shipping faces the dual challenge and opportunity of having to decarbonise and digitalise simultaneously, DeepSea’s technology enables its clients to make data-driven decisions to lead the industry forward. The investment reinforces DeepSea’s strong financial position and will enable further technological and product research, design, and development. 

The fresh funding will also be invested in accelerating the company’s international commercial expansion, which will focus on Asian markets.

The round was led by Nabtesco Technology Ventures with participation from The Signal Group and existing investor ETF Partners. Nabtesco Technology Ventures is the Corporate Venture Capital arm of Nabtesco Corporation – the Japanese leader in shipping automation with a robust 40% market share – operated by climate tech venture capital firm Emerald Technology Ventures. 

The Signal Group is a diversified maritime, technology and investment firm and developer of The Signal Ocean Platform, a SaaS platform for the commercial optimisation of shipping. ETF Partners (The Environmental Technologies Fund) is Europe’s leading sustainability focused venture capital fund. Founded in 2005, ETF Partners supports founders and businesses who are building cutting-edge technology to solve the world’s greatest challenge – climate change.

The funding follows a rigorous technical due diligence process carried out by the investors, which involved months of research, technical tests to check the accuracy of the AI models that the company has developed, and strict competitive analysis to explore how DeepSea scored against fellow technological companies and competitors in the industry. The resulting investment future-proofs the company and demonstrates that DeepSea is highly trusted by sector-specialised investors.

In parallel with the investment, DeepSea Technologies and Nabtesco will begin a commercial and research cooperation which will see DeepSea’s partnership with Nabtesco’s sales network, the development of joint products and the participation in joint research on technologies that will reshape the future of maritime industry. Similarly, in addition to The Signal Group’s capital participation, further collaboration opportunities will be explored following the funding. 

These partnerships are tangible proof that the investment has not only further strengthened DeepSea’s financial position, but also secured a specialised and robust sales network for the company and its participation in the development of innovative technological products for the shipping market.