OceanScore closes €5m funding round to expand maritime compliance solutions
OceanScore, a provider of data and compliance management solutions for the maritime industry, has secured a €5 million in an oversubscribed Series A funding round. This fresh capital injection will enable OceanScore to enhance its product offerings and broaden its global reach.
The financing round saw strong participation from existing backer theDOCK and new investors including Stolt Ventures, Motion Ventures, and Portline, along with several angel investors. All previous investors, such as MSC and Peter Döhle, maintained their stakes, reflecting their ongoing confidence in OceanScore's growth prospects.
What makes OceanScore attractive to investors OceanScore’s suite of digital solutions – including the flagship ETS Manager and the innovative FuelEU solutions – supports the shipping industry in managing regulatory processes and risks, while also offering decision-making tools to navigate commercial opportunities and manage costs.
Since its 2023 seed round, OceanScore has established itself as the global leader in EU ETS solutions, expanding its client base to include major shipping companies like V-Ships and Norbulk. The company’s strong performance in Q2 2024, highlighted by record order intake and expansion into new regions, has attracted high-profile investors and reinforced its standing in the industry.
Nir Gartzman of theDOCK says: “OceanScore's impressive growth and exceptional team align perfectly with our mission to support startups that aim to make global trade more sustainable while introducing viable business models. Their success in building a market-leading ETS solution, used by shipping companies worldwide, gives us great confidence in OceanScore's ability to dominate also the FuelEU Maritime market.”
The influx of new capital will be used to enhance and refine both new and existing solutions, expand customer service and data teams to provide world-class support for a rapidly growing customer base, as well as to establish a global footprint to better support customers across various regions.
Albrecht Grell, Managing Director at OceanScore, expressed enthusiasm for the future: “We are thrilled by the support we are receiving from these pedigree investors and the opportunities this offers to us. Seeing the strong demand for our solutions around the globe and the positive response for our new FuelEU solutions, we are excited to double down on investing in our global footprint, product development and AI capabilities.”
OceanScore’s other Managing Director, Ralf Garrn, emphasised the company’s dedication to data excellence and advanced technology: “We at OceanScore pride ourselves on superior data quality and customer service. The renewed support we are receiving from our investors allows us to step up our investment in these fields, amongst others integrating more data sources and advanced analytics capabilities.”
As OceanScore embarks on this exciting new chapter, the support from its investors will be instrumental in propelling the company towards even greater heights, ensuring its solutions remain at the forefront of the maritime sustainability revolution.