Maritime technology start-up Ceto has raised $4.8 million in new funding to support the global expansion of its AI-based insurance platform. The round was led by Dynamo Ventures, with additional backing from Howden Ventures, Signal Ventures, and Motion Ventures.
Ceto’s system captures high-frequency vessel data to improve insurance risk selection, reduce machinery failures, and increase fuel and emissions efficiency. The technology includes tools for live ship tracking, emissions and fuel management, and a connected insurance offering that links operational performance with insurance terms.
The platform is designed to support rapid onboarding, with full fleet integration possible within hours for companies already capturing data.
“For as long as humans have existed, so has our desire to sail the open water. It’s no surprise then that maritime—one of the world’s oldest industries—still relies on some outdated practices,” said Tony Hildrew, CEO and Founder of Ceto.
“At Ceto, we aim to unite the power of AI with the indispensable human expertise at the heart of maritime. This kind of technology plays a critical role in identifying risk and improving decision-making, ushering in a smarter era for shipping and finance.”
The funding will support further product development and team growth as Ceto scales its operations internationally, with the current client base already including operators in Japan, Singapore, and the UK.
Ceto had previously raised approximately $2 million in a seed funding round in late 2023, led by Howden Ventures and with participation from Chaucer Group, Founders Factory, and existing investors from the Business Investors Group.
