Delft-based Next Ocean, a company specialising in predictive motion Radar Technology announced that it has secured undisclosed funding in a seed round from Arches Capital.
Based out of Amsterdam, Arches Capital is a fast-growing group of business angels bridging the gap between Venture Capitalist (VCs) and Business Angels.
“Next Ocean’s predictive radar technology is reshaping offshore safety and efficiency. We are excited to support their global expansion and help bring this innovation to more maritime professionals, making offshore operations safer and more reliable,” says Frank Appeldoorn, Managing Partner, Arches Capital.
Fund utilisation
The Dutch company will use the funds to accelerate its growth, enabling it to scale production, expand into new markets, and further develop its predictive radar technology.
The announcement comes around two years after raising €75,000 in a pre-seed funding round from Graduate Entrepreneur, an initiative of a group of influential and merited alumni of Erasmus University Rotterdam, Erasmus MC, and the Delft University of Technology.
Over the past years, the Dutch company has successfully delivered numerous Vessel Motion Radar systems to leading companies in the Offshore Wind and Oil & Gas industries.
Next Ocean: Specialising in vessel motion prediction
Next Ocean was founded in 2016 as a spin-off of Delft University of Technology, by Peter Naaijen and Karel Roozen.
The company aims to revolutionise the maritime sector with its advanced wave prediction technology.
Next Ocean’s technology provides accurate forecasts of sea waves and vessel motions, allowing businesses to manage wave-related risks and enhance offshore operations’ efficiency.
This precision allows for safer and more efficient offshore operations, minimising operational risks and maximizing uptime, even in rough weather.
As a result, it leads to cost savings and a notable reduction in CO2 emissions, highlighting its environmental benefits.
In early 2022, the team grew with a focus on tackling container loss at sea and improving user interface, highlighting Next Ocean’s dedication to diverse expertise and innovation.
“This partnership marks a significant milestone for Next Ocean, reinforcing our long-term commitment to the offshore industries. We are confident that Arches Capital will be a key partner in further establishing our market position. By accelerating our growth, we can bring our potentially life-saving technology to operators worldwide and strengthen the relationships we’ve built with our existing clients. Together, we can drive safer and more efficient maritime operations,” says Karel Roozen, CEO of Next Ocean
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