Netherlands-based maritime software company We4Sea reports that it has secured new funding to accelerate the development and roll out of its vessel fuel consumption and emissions monitoring platform, used to optimise a ship’s fuel consumption during a voyage.
The new investment comes from ENERGIIQ, Mainport Innovation Fund II and a group of angel investors, and was announced by Adri Bom-Lemstra, Regional Minister for Economy and Innovation for the Province of Zuid-Holland.
We4Sea’s software-based system analyses and reports fuel consumption and associated CO2 emissions from seagoing ships by applying Digital Twin technologies. The collected data, such as ship speed, draft, water depth, wind, waves and currents, are analysed and used to optimise fuel consumption, with the ship remotely monitored using simulation models to support improved decision making.
The company was founded in 2016 by Michiel Katgert and Dan Veen, and spent its early life as part of YES!Delft’s Port Innovation Lab growth programme. The founders are optimistic that this new investment will enable them to accelerate the development of their platform and support wider adoption in the maritime market.
“We’re proud of the growth achieved in recent years, but there’s still a wealth of opportunities that will help us improve our product, connect with more customers and expand the market. This is in line with our mission to prevent one million tonnes of CO2 emissions from shipping,” said Dan Veen, CEO at We4Sea.