Starboard Maritime Intelligence, a Wellington, New Zealand-based data analytics startup utilizing machine learning to detect suspicious activity by vessels at sea, has raised A$4.6 million (NZ$5M) in seed funding.
Investors
The round was led by Kiwi VC Altered Capital, supported by Icehouse Ventures, Invest South, Soul Capital, and the Whakatupu Aotearoa Foundation, as well as marine-focused US early-stage investor SeaAhead.
Altered Capital is a venture capital and reinvestment stage fund manager focusing on private growth companies pursuing strategies in technology, healthcare, and financials. Altered Capital specializes in companies that need capital to support their ambitions for expansion, innovation, and acquisitions.
Starboard Maritime Intelligence Use of Funds
The funding will be used to strengthen Starboard’s support for a growing number of analysts in the Pacific region, as well as expand their go-to-market function to increase their impact in other countries and industry verticals.
About Starboard Maritime Intelligence
Founded in 2019, Starboard Maritime Intelligence is a SaaS company that supports governments, border security authorities, NGOs, and fisheries inspectors in analyzing maritime data to make better decisions about which vessels to focus on and inspect. The company offers a software platform that combines various data sources, including AIS, satellite imagery, and scientific models, to enable maritime activity monitoring and analysis.
Funding Details
Company: Starboard Maritime Intelligence Limited
Raised: A$4.6M
Round: Seed Round
Funding Month: April 2024
Lead Investors: Altered Capital
Additional Investors: Icehouse Ventures, Invest South, Soul Capital, Whakatupu Aotearoa Foundation, SeaAhead
Company Website: https://starboard.nz/
Software Category: Maritime
Source: https://www.startupdaily.net/topic/funding/kiwi-sea-crimes-startup-starboard-maritime-intelligence-floats-4-6-million-seed-funding-round/