Australian ocean robotics company Hullbot has secured $16 million in Series A funding to advance its mission of improving the environmental performance and efficiency of global shipping through autonomous underwater robots.
In a LinkedIn post, the company said the latest investment represents a strong vote of confidence in its efforts to make shipping greener by using robotic systems that proactively clean and inspect ship hulls to prevent biofouling.
The funding round was led by Regeneration.VC, with participation from Katapult Ocean, Climate Tech Partners, Folklore Ventures, Trinity Ventures Australia, Rypples, Bandera Capital and other investors.
Hullbot said its technology delivers average fuel savings of 15 per cent, and up to 26 per cent in some cases, by reducing biofouling – the accumulation of marine organisms on hull surfaces that can significantly increase fuel consumption.
According to the company, its robotic cleaning systems have already prevented millions of kilograms of CO2 emissions across more than 1,100 cleans globally.
“This new capital will accelerate our growth by scaling manufacturing, establishing more international service hubs, and evolving our next-generation robotic systems to accommodate larger shipping vessel classes,” Hullbot said.
The company also expressed its appreciation to its investors, partners, and team members, including co-founders Karl W. and Tom Loefler, noting that their collective efforts have laid the foundation for its next phase of growth.
For more information visit www.hullbot.com.
