Ofiniti, formally known as FuelBoss, a platform for managing marine fuel bunkering operations, has received investment from a group of private and venture capital investors as part of a spin out from DNV.
DNV remains the largest shareholder of Ofiniti, with new investment led by a Nordic family fund and Singapore-based maritime venture capital firm ShipsFocus.
“DNV has developed a pathway to progress digital business ideas into new enterprises and incentivise corporate founders. The fact Ofiniti has attracted such interest from investors is an endorsement of the great service it provides and a vindication of our venture strategy,” said Kjetil Ebbesberg, DNV Chief Financial Officer.
Ofiniti’s main focus is on digitising LNG bunker deliveries, but it has recently expanded to support delivery of all marine fuels on its platform, digitising bunker operations and providing electronic Bunker Delivery Notes (eBDNs).
Three DNV employees are leaving their jobs in DNV to join Ofiniti as full-time founders in addition to new hires in commercial and product development.
“ShipsFocus is very pleased to be part of DNV’s startup spin-off in Ofiniti as the choice VC investor. Ofiniti’s flagship FuelBoss bunkering platform has the DNV innate quality and accreditation with its dominance in the LNG market share. We believe the founders will bring it to great heights,” said Chye Poh Chua, Founder of ShipsFocus.
