Fleet management software platform ShipIn Systems has received new investment from Munich Re Ventures, the venture capital arm of insurance firm Munich Re Group.
Boston-based ShipIn deploys AI-powered cameras and real-time visual analytics to proactively alert users to onboard anomalies around bridge activities, safety and security, cargo operations and maintenance.
“By partnering with Munich Re Ventures, we are helping to build a safer and more productive future for the maritime industry,” said Osher Perry, Co-Founder and CEO of ShipIn Systems.
“The reality is that as ships are getting bigger, crew are getting smaller. ShipIn’s mission is to give seafarers the advanced digital tools required to do their jobs better and fleet managers the experience and benefits of working ‘shoulder-to-shoulder’ with their seaborne teams. We believe every ship will have Visual Fleet Management in the near future.”
With more than $1 billion in assets under management, Munich Re Ventures invests in start-ups engaged in developing new technologies and business models for risk management and transfer. This ShipIn deal represents its first maritime investment.
“ShipIn’s patented platform brings the vision and capability to support the broader digitalisation of the marine and cargo shipping industry,” said Timur Davis, Investment Principal, Munich Re Ventures.
“We see this trend as an important enabler for marine organisations to make more informed decisions in managing assets at sea. Munich Re Ventures looks forward to collaborating with ShipIn to reduce incidents on a ship, improve overall safety and operations, and ensure effective and timely resolution to onboard incidents.”