AI sustainability data platform OceanScore has hailed a new funding round as a big step forward for its expansion plans.
The German tech company said the over-subscribed cash-raising exercise added €5m ($5.5m) to its bank account, which will allow it to develop its services and expand its global footprint, adding to customer service and data teams.
Launched in 2020, Hamburg-based OceanScore is an AI-powered platform that analyses data from multiple sources to track ship emissions comprehensively.
There were significant contributions from existing backer theDOCK, and new investors such as tanker group Stolt-Nielsen’s Stolt Ventures, Motion Ventures and Portuguese bulker owner Portline.
All other investors have retained their shares, underscoring their confidence in the company, OceanScore said.
The platform claims to be the leader in European Union Emissions Trading Scheme solutions.
The second quarter was its strongest to date as it added to orders and moved into new geographical regions, it said.
Last year, big-name liner players supported a round of seed funding.
The MSC Group, Peter Dohle Schiffahrts, Columbia Shipmanagement shareholders and the Schoeller family participated.
The client base has since grown to include manager V.Ships and owner Norbulk.
OceanScore managing director Albrecht Grell said he was thrilled by the support from pedigree investors.
Strong demand for its services means the operation is able “to double down on investing in our global footprint, product development and AI capabilities”.
The company also has offices in Portugal, Singapore and Poland.
