SeaMachines, a developer of autonomous technology for the marine industry, has announced it has raised US$10 million in Series A investment as it seeks to explore advanced perception and navigation assistance technology for container ships.
According to a statement, SeaMachines has received capital from global logistics firms, such as Toyota AI Ventures and A.P. Moller-Maersk, as well as start-up investment specialist Eniac Ventures.
A round of Series A investment is undertaken by start-ups looking to raise capital and is ordinarily done on the basis of proof of concept, market size and the risk to investors.
It is followed by rounds of Series B and C investments, which look to increase revenue and market share respectively.
It is the latest in a series of measures taken by Sea Machines to develop its business and pursue innovation in the marine technological space.
In April it agreed to develop advanced situational awareness technology for one of Maersk’s new class of ice-class container ships.
Speaking about the news, Michael Gordan Johnson, founder and CEO, SeaMachines said: “We are creating the technology that propels the future of the marine industries.
“This investment enables us to double down on our commitment to building advanced command and control products that make the industry more capable, productive and profitable.
“This backing is another signal that Sea Machines is the unquestioned leader in the space and is playing an integral role in the revolution of marine and maritime operations driven by technology.”