OceanScore, a platform to track emissions from the global shipping fleet, has brought a group of major maritime industry investors onboard to fund development of new data-driven tools to support regulatory compliance with decarbonisation initiatives.
The Hamburg-based technology developer, launched in 2020, monitors the performance of 109,000 commercial vessels to benchmark ship operations against sustainability goals.
Its AI-powered platform uses engineering algorithms and regression models to analyse data from multiple sources, tracking emissions (CO2, SOx, NOx and PM) as well as reporting a further 50 ESG scores around vessel safety and reliability, environmental performance and adherence to the United Nations Sustainable Development Goals (SDGs).
OceanScore’s now completed seed funding round has seen heavyweight investors like container shipping giant MSC, as well as P. Döhle, the Schoeller family (shareholders in Columbia Shipmanagement and Scope Ratings), TecPier and Israel’s theDOCK committing capital for expansion of the platform. The amount of funding raised has not been disclosed.
“We are delighted with the level of investment interest in OceanScore after detailed scrutiny by these highly reputable investors,” said OceanScore’s co-Managing Director Albrecht Grell.
“Their investments represent a firm vindication of our potential and the quality of our data, solutions and capabilities, while also providing a strong foundation for further growth.”
“Our investors provide us with further, unparalleled collaboration opportunities and we are delighted at the potential these offer to further expand our innovative platform.”