MarineLabs, a Victoria, Canada-based maritime weather intelligence technology company, raised $4.5M in Seed funding.
The round was led by BDC Capital’s Sustainability Venture Fund with participation from Seaspan Shipyards.
The company intends to use the funds to accelerate product development, expand market reach, and consolidate its position.
Founded in 2017, and led by Dr. Scott Beatty, CEO, MarineLabs is a coastal intelligence company and real-time data provider, whose data is transforming marine safety and helping to build climate-resilient coastlines. Its flagship product, CoastAware, is a real-time weather intelligence solution that enhances safety, efficiency, and sustainability in maritime operations by providing users with detailed, actionable, real-time, and historical weather conditions data for informed decision-making.
Commenting on the news, Scott Beatty said: “This significant investment is a testament to the confidence our esteemed partners have in our vision and the transformative impact of CoastAware on the maritime sector. Providing reliable real-time data enables sound decision-making within the maritime industry, while equipping governments and coastal communities around the globe to respond to volatile weather and build climate resilience. We are thrilled to embark on this next phase of our exciting journey with BDC Capital and Seaspan by our side.”
FinSMEs
14/03/2024