TLDR:
- Gothenburg-based Cetasol secures €2M in funding for maritime sustainability.
- Funding from Sarsia, ShipsFocus, and Impact X Capital to enhance product range and market presence.
Sweden’s green tech firm Cetasol, focused on maritime sustainability, has announced the successful securing of €2M in a seed round of funding. The investment came from Sarsia, ShipsFocus, and Impact X Capital, allowing Cetasol to broaden its market presence and enhance its product range. The company aims to increase product sales volume by doubling research and development efforts and optimizing software development.
Cetasol recognizes the importance of maritime sustainability for future operations, especially with tightening regulations and International Maritime Organization (IMO) objectives in place. The company’s iHelm decision support platform, leveraging AI and machine learning, helps ships find the fastest and most fuel-efficient route, resulting in significant fuel cost savings of 10 to 25 percent. The iHelm platform, installed globally, offers actionable insights and real-time support for vessels, reducing emissions and optimizing energy consumption.
The funding from Sarsia, ShipsFocus, and Impact X Capital will enable Cetasol to double its R&D efforts, enhance global sales channels, and focus on AI and product optimization to drive volume sales. The company plans to hire more product owners and data engineers for sustainable growth and aims to offer an off-the-shelf volume product in the future. Founder and CEO of Cetasol, Ethan Faghani, expresses excitement about the global investment and the potential for iHelm to impact maritime sustainability worldwide.
