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Norwegian startup raises €1.8M seed to power the future of urban waterways

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Trondheim-based startup Zeabuz has raised €1.8 million in seed funding from investors including Yinson Green Technologies and Statkraft Ventures. The funds will help the startup expands its autonomous system for maritime vessels. The technology aims to create emission-free transport services using self-driving passenger ferries, making it easier for pedestrians and cyclists to travel through cities. The investment will enable Zeabuz to work with Yinson Green Technologies to incorporate its technology into electric vessels and increase safety and efficiency. Meanwhile, Statkraft Ventures will support Zeabuz’s goal of becoming a leading player in green waterborne ventures.

Zeabuz was founded in 2019 as a spin-off of the Norwegian University of Science and Technology’s progressive research center for autonomous marine operations and systems. The company has developed a proprietary autonomy platform that is scalable, certifiable, and suitable for both new designs and retrofitting on existing vessels. Their business model is to offer autonomy-as-a-service to operators of smaller vessels.

“We are proud to be associated with such robust, strategic, long-term investors. It means a lot for the goal of realizing emission-free transport services. Our world-leading technology enables new transport concepts on urban waterways with electric, flexible, self-driving passenger ferries. It will lighten the load on roads and bridges and make it easier for pedestrians and cyclists to travel through the cities,” says Erik Dyrkoren, CEO and co-founder of Zeabuz.

With Malaysian Yinson Green Technologies (YGT), Zeabuz has gained an investor with solid international expertise on the team. Since 1983, YTG has been engaged in Asia’s transport and logistics sector, first as one of Malaysia’s largest transport companies, then with a solid international position in offshore, shipping, and renewable energy technology.

“We recognize the enormous potential of autonomous vessels and see Zeabuz as well positioned to become a leader in this segment. Following this investment, we look forward to working closely with Zeabuz to bring highly innovative autonomous vessel solutions to the Singapore market,” says Eirik Barclay, CEO of YGT.

YGT plans to incorporate Zeabuz’s technology into its electric vessels and use these technologies to increase vessel safety and operational efficiency.

Statkraft Ventures was established in 2015 and invests in outstanding energy and climate technology entrepreneurs.

“As cities push for decarbonization, we see a clear trend for the electrification of urban mobility, such as ferries. Thanks to the robustness of their autonomous technology and the strength of their team, conformed of the top experts in the field, we believe that Zeabuz is well positioned to be a leading player in new green waterborne ventures,” says Odette Yga, Associate at Statkraft Ventures.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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