Gothenburg-based Cetasol, a Swedish firm focusing on maritime sustainability, announced that it has secured €2M in a seed round of funding. The investment came from Sarsia, ShipsFocus, and Impact X Capital.
With this funding, Cetasol says it can broaden its market presence and enhance its product range. The company also aims to increase its product sales volume by doubling its research and development efforts and optimising software development.
Paula Groves, Impact X’s Chief Investment Officer, says, “Impact X is excited to partner with Cetasol which leverages AI and ML to help small and medium-sized ships find the fastest most fuel-efficient route to their destination, resulting in fuel cost savings of 10 to 25 per cent.”
“Cetasol’s staff is 40 per cent female, demonstrating that diverse teams can deliver outsized results which positively impact sustainability and the world.”
Maritime sustainability
According to a…
