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Autonomous vessel tech company raises $10m

Boston-based autonomous vessel technology company Sea Machines Robotics has closed a $10 million fundraising round, bringing the total funding raised by the company to $12.5 million.

{mprestriction ids="1,2"}Sea Machines says it will use the funds to expand the sales team supporting its recently released line of products, grow its R&D and engineering teams, and roll out new product feature sets. 

“We are creating the technology that propels the future of the marine industries. This investment enables us to double down on our commitment to building advanced command and control products that make the industry more capable, productive and profitable,” said Michael Johnson, founder and CEO, Sea Machines.

“This backing is another signal that Sea Machines is the unquestioned leader in the space and is playing an integral role in the revolution of marine and maritime operations driven by technology.”

The funding round included backing from venture capital firms Accomplice VC and Eniac Ventures, with participation from Toyota AI Ventures; Brunswick Corp., through investment partner TechNexus Venture Collaborative; NextGen VP; Geekdom Fund; Launch Capital; LDV Capital and others.

“At Toyota AI Ventures, we believe that autonomous mobility can help improve people's lives and create new capabilities – whether on land, in the air or at sea,” said Jim Adler, founding managing director, Toyota AI Ventures.

“Sea Machines’ autonomous technology and advanced perception systems can reduce costs, improve efficiency and enhance safety in the multi-billion dollar commercial shipping industry. This marks our first investment in the maritime industry, and we’re excited to embark on this journey with Sea Machines.”

Sea Machines is currently developing perception and navigation assistance technology for a range of vessel types, including container ships. In the first quarter, the company says it will initiate testing of its systems on board one of A.P. Moller-Maersk’s new-build ice-class container ships.{/mprestriction}

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