Korean maritime technology company Mapsea reports that it has secured investment from Los Angeles–based VC Ventures, to support the continued growth of its digital and autonomous navigation platform.
Though the amount of funding involved has not been disclosed, Mapsea says that it will help to underpin its global growth strategy and strengthen its position in the smart and autonomous ship sectors.
Mapsea has previously received backing from Korean financial institutions including Magna Investment, Hana Securities, BNK Venture Investment, IBK Corporate Bank, and the Credit Guarantee Fund.
The company has developed digital twin-based navigation support tools using more than 113 billion global real-time marine data points. Its flagship system, Mapsea Connect, is an app-based portable navigation technology already used by shipping companies, port operators, and public sector organisations.
Mapsea says that it also plans to establish an Arctic Route Research Institute in Busan to explore the use of operational optimisation technologies for use on polar shipping routes.
