Xocean provides marine data to offshore energy companies. Check out the pitch deck it used to raise $119 million.
XOcean
- Xocean's uncrewed ships offer low-carbon ocean data for offshore wind and hydrography.
- The Irish startup has secured $119 million to expand its services.
- Check out the 10-slide pitch deck it used to secure the funding.
Xocean, which offers data on the ocean to offshore wind and hydrography operations, has secured $119 million to expand.
The Irish startup, launched in 2017, has developed remotely controlled uncrewed surface vessels (USVs) with built-in sensors that can capture geophysical ocean data.
Users monitor and control the USVs through the startup's CyberDeck cloud platform, which also analyzes the quality of the data being collected. This data can give insights into seafloor topography and the sediments that make up the ocean floor.
Xocean's clients include BP, Shell, and SSE Renewables.
"We are providing this service for many of the world's largest energy companies, supporting the development of clean, renewable energy globally," founder and CEO James Ives said in a statement announcing the $119 million investment.
The transition to cleaner energy has been a central topic of discussion as companies race to find renewable sources of energy — such as wind and nuclear — to power the AI boom.
The startup partnered with climate investment firm S2G Ventures to structure the $119 million round, which was backed by S2G, Climate Investment, and Morgan Stanley's 1GT climate fund, among others.
The company said it would use the capital injection to expand its geographical footprint and accelerate product innovation.
Check out the 10-slide pitch deck used to secure the fresh funding.