Level2 Ventures and RKKVC participated in an international $12M investment round of Sea Machines
Level2 Ventures and RKKVC, together with Emerald Technology Ventures and Nabtesco Technology Ventures (NTV), have invested in Sea Machines, a developer of autonomous control systems, advanced sensing and identification technology for marine vessels. Chevron Technology Ventures and IMC Group also participated in the $12 million funding round. Sea Machines will use the capital raised to improve its technology, expand its customer base, and increase its market share. The company's customers already include Lockheed Martin, MAERSK, Oersted, the US Navy, US Special Forces, and DLR.
Boston-based Sea Machines Robotics is the world leader in autonomous piloting systems for marine vessels. The technology allows for autonomous and remote control of the ship, full control of onboard systems, and reduced human labor involvement by automating onboard processes.
-Sea Machines is a pioneer in the fast-growing market for autonomous shipping services. By investing in the company, we are betting that automatic control and collision avoidance systems will be key drivers of competitiveness in the maritime sector. Despite the procedures, we are dealing with more than four thousand safety incidents every year. The number of operators using autonomous control systems is steadily increasing, greatly influenced by rising costs, labor shortages, safety aspects, but also high fuel prices, and pressure to reduce greenhouse gas emissions. It is estimated that this sector will grow at an annual rate of 9.6% between 2022 and 2030 - says Adam Rudowski, General Partner of Level2 Ventures.
Sea Machines' solution allows shipboard computers to maintain precise control of a ship's position, control course and speed during a voyage, reroute when necessary, and use streamed data to streamline operations.
-The company's technology can be used to optimize the route, and fuel consumption and reduce harmful emissions. The startup is also developing technologies for computer vision and advanced data collection along shipping routes. Sea Machines' solution is already being used by established global brands operating in the field of commercial shipping, as well as defense sector players, which makes this investment very attractive in terms of long-term growth potential - Matthew Bodio, founder of the RKKVC fund, concludes.
The funding round, in which Sea Machines raised $12 million, was led by Emerald Technology Ventures and Nabtesco Technology Ventures, with Chevron Technology Ventures and IMC Group among the investors in addition to RKKVC and Level2 Ventures.