Capital from new and existing investors will support pioneering maritime technology specialist’s product development and expansion into Asian markets
29 July 2021, Zurich — Nabtesco Technology Ventures (NTV) is happy to announce an investment in DeepSea Technologies, a leading specialist in maritime technology – specifically vessel performance monitoring and optimisation.
As the shipping industry faces the dual challenge and opportunity of having to decarbonise and digitalise, 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 new funding will also allow DeepSea to accelerate its global commercial expansion, focusing 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 that 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 trials to confirm DeepSea’s AI models, and strict competition analysis to explore how DeepSea scores against industry competitors. The resulting investment demonstrates the confidence of sector-specialised investors like Nabtesco in DeepSea’s technology and leadership team, and our commitment to building an open-innovation ecosystem and maintaining our leading position in the maritime sector.
In parallel with the investment, Nabtesco and DeepSea will begin a commercial and research collaboration. This will include providing DeepSea with access to Nabtesco’s sales network, joint product development, and joint research on technologies that will shape the future of maritime shipping.
Collaboration opportunities with The Signal Group will also be explored followed by their capital participation. 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.
Roberto Coustas, Co-founder and CEO of DeepSea Technologies, said: “We are thrilled to have secured this latest round of investment. Having the support and conviction of key industry partners who will support us in realising our mission of making shipping sustainable is extremely motivating for the whole team. This financing round, coupled with a very strong commercial environment driven by new vessel efficiency regulations from the IMO, makes us very optimistic about the future.
With Nabtesco’s support in Asian markets, we are certain that we will be able to assist shipping companies in the region to realise the commercial value of AI technology to improve their bottom line. The investment that we are announcing today opens the next chapter of DeepSea, as a global player in the performance and optimisation space.”
Konstantinos Kyriakopoulos, Co-founder and CTO of DeepSea Technologies, said: “This vote of confidence by a leader in maritime technology such as Nabtesco, following a rigorous technical due diligence process, confirms the value of our ground-breaking AI technology, which can model the behaviour of vessels with unprecedented accuracy to immediately deliver cost and CO2 emission reductions of over 10%.
Their backing, combined with that of major international investors ETF Partners and Emerald, and of maritime AI pioneer Signal, strengthens our conviction that our robust data-driven approach is the best way forward to tackle the environmental challenges of the maritime industry. We look forward to combining our efforts with Nabtesco’s vast expertise in shipping, automation and robotics, as well as Signal’s in market analytics, to develop new solutions to further revolutionise fleet optimisation.”
Hiroshi Nerima, Managing Partner at Nabtesco Technology Ventures, said: “The decision to invest in DeepSea is fully in line with our dedication to engage with promising start-ups and support talented and passionate entrepreneurs.
The DeepSea team is developing innovative technologies that can make a lasting impact in the shipping industry and help the sector to overcome the severe environmental challenges that it is facing. We are excited to be a partner for DeepSea during this process and accompany them in their expansion into Asia through close collaboration with the Nabtesco Group.”
Mehran Zaker, Sector Specialist (Mobility & Maritime) at Emerald Technology Ventures, said “We have seen ground-breaking technology developed by a dedicated team with a vision to accelerate the sustainable transformation of the maritime industry.
We are extremely excited about becoming DeepSea’s partner and supporting them together with the Nabtesco Group in their international expansion.”
About DeepSea Technologies
DeepSea is a maritime technology company specialising in vessel performance monitoring and optimisation. Deepsea combines many years of experience in the shipping industry with deep expertise in the fields of software, hardware and Artificial Intelligence. The company is passionate about creating products that help its clients make data-driven decisions to achieve their decarbonisation objectives and lead the industry forward.
Visit www.deepsea.ai to find out more about how Deepsea helps shipping companies become more efficient and reduce their CO2 emissions.
About Nabtesco Technology Ventures
Nabtesco Technology Ventures L.P. (General Partner: Hiroshi Nerima) is a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation (President: Katsuhiro Teramoto), in partnership with Emerald Technology Ventures, a global leader in technology venture capital. The EUR 75 million fund invests primarily, but not exclusively, in robotics, motors, sensors, additive manufacturing, artificial intelligence, and Internet of Things technologies. NTV reinforces Nabtesco Corporation’s position as a global leader in manufacturing technology, accelerating investment and collaboration around the world.
www.nabtesco-ventures.com and www.nabtesco.com/en
About Emerald Technology Ventures
Emerald is a globally recognized investment firm and strategic innovation partner, with offices in Zurich, Toronto and Singapore. Founded in 2000, it has raised five venture capital funds, backed 70 emerging industrial technology leaders through over 500 venture investment transactions and managed five third-party investment mandates, including for the governments of Singapore and Switzerland, providing loan guarantees for over 100 start-ups. Emerald is a trusted open innovation partner specializing in managing the sustainable impact of numerous multi-national corporations, leveraging deep industry expertise and rich global deal flow in the areas of energy, water, industrial IT, advanced materials, recycling, mobility, robotics and agriculture.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|BLUE Communications||+44 (0) 7389 088 388|
|Sonia Cordoba||[email protected]|
|DeepSea Technologies||+30 216 600 5573|
|Ioanna Chrysospathi||[email protected]|
|Nabtesco Technology Ventures||+41 44 269 6144|
|Hiroshi Nerima||[email protected]|