Cetasol has raised €2.3 million in a seed funding round co-led by BackingMinds and Shift4Good, with continued backing from existing investor Sarsia.
The Gothenburg-based company develops AI-driven decision support systems for small and mid-sized vessels, aiming to cut fuel consumption and reduce greenhouse gas emissions.
Its flagship system, iHelm, uses real-time and historical operational data to provide fuel-saving recommendations, vessel performance tracking and predictive maintenance insights. Cetasol says the technology can deliver fuel savings of 10–25%.
The system combines edge computing with digital twin models of the vessel and engine, delivering recommendations directly to the bridge while also feeding a cloud-based dashboard for fleet managers.
“This investment confirms that our approach to AI-driven decision support and maritime sustainability is both needed and trusted,” said Ethan Faghani, CEO and Founder of Cetasol.
“With this support, we are scaling faster and wider — delivering intelligent solutions to maritime operations globally.”
Cetasol plans to use the funding to expand in key maritime markets, grow its partner network and accelerate adoption of iHelm across a broader range of vessel types.
