Korean maritime data analytics start-up SeaVantage has received a strategic investment of US$2.3 million (KRW3 billion) from HD Hyundai Marine Solution, a standalone engineering services company within HD Hyundai (previously Hyundai Heavy Industries group).
SeaVantage says it will leverage this new capital, as well as HD Hyundai’s resources and industry expertise, to improve its products like SVMP (SeaVantage Maritime Platform), accelerate the development and deployment of new services, and expand its workforce.
The company utilises AI and big data technology to power its shipping logistics tracking and visualisation systems, providing services such as real-time cargo and vessel tracking, port congestion analysis, and monitoring of the destination and arrival of ships around the world.
“This strategic $2.3 million investment from HD Hyundai Marine Solution is a testament to the strength of our technology and vision,” said Song Hyung Jin, CEO of SeaVantage.
“It will empower us to further enhance our technological capabilities and drive the development of a more sustainable shipping logistics industry.”
