NEW!SaaS Companies That Got Funded in 2022! Read More

Funding

Smart Ship© Hub, Singapore headquartered B2B (SaaS) Maritime digital platform raises a pre-series round of $ 2.5M led by Ideaspring Capital and StartupXseed ventures.

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Smart Ship Hub (SSH) is a ready-to-deploy digital platform for global maritime logistics. SSH is disrupting the maritime industry the way avionics did in the airline industry. Cloud-based and on-demand, SSH provides a “unified platform and a single source of truth” for Ship Owners, Ship Operators, Charter Parties, maritime insurers, and Port authorities. The platform caters to merchant ships, naval ships, oil rigs, river-going barges, and fishing vessels.

Global maritime, despite being the largest mode of transport suffers from operational inefficiencies, lack of visibility, and transparency leading to commercial leakages. Ship owners, operators, chartering agencies, and insurance companies are now focused on technology-backed smarter processes to ensure “High vessel uptime, Seaworthiness, and Predictability” with digital systems.

SSH’s “ship-to-shore and shore-to-ship” based management of fleet using smart sensors, IoT, and big data is saving substantial operational costs while enhancing voyage efficiencies. The digital platform is helping predict possible machinery downtime, and malfunctioning, identify performance deviations, and vessel routes to improve voyage and vessel performance. SSH’s ” Marine Insights ” is a unique maritime big data platform providing actionable intelligence, smart alerts, and performance advisory for the entire fleet using millions of records.

SSH’s global customers are able to achieve their target of ” minimal breakdown maintenance”, “optimum fuel utilization”, “staying in total compliance including for emissions”, “optimizing costs with condition-based maintenance” and a much higher level of ” voyage control”. The “Performance Advisory” feature is reducing the number of incidents for these ships while saving maintenance and fuel costs. Future-ready maritime companies are helping in the creation of a connected ecosystem: connected ships, shared services (routes, capacity, procurement), and a “pay per use” model with SSH digital.

Joy Basu, Founder of Smart Ship Hub adds: “Digital platforms will play a fundamental role in disrupting maritime legacy processes. Inefficient & legacy workflows in ships and shore are gradually giving way to automated remote management. This fundraiser will allow us to pass on more value to our customers globally. Customers will now have a captive performance center for a fraction of the cost they incur today. Ship owners, Operators, and Charter parties can get a digital upgrade for “Zero” capex, allowing them to unblock their capital and upgrade more vessels”.

About Ideaspring Capital

“Ideaspring Capital is very happy to be part of Smart Ship Hub’s growth and its journey towards being the digital platform of choice for global maritime companies. As a venture capital firm, we are focused on organizations that are into IoT, Machine Learning, Deep Learning, Big Data Analytics, AR, VR, Cyber Security, and Computer Vision and we have seen SmartShip leveraging these technologies through their world-class platform. We are very impressed with the team and the product” says Naganand Doraswamy, Managing Partner, Ideaspring Capital.

About StartupXseed

“StartupXseed is a sector agnostic fund with investments from SaaS to Space (Tech), including the areas of Cyber Security, Semicon, AI/ML, Drones, and New Frontier Startups in India with a Global Focus. Smart Ship Hub is an early growth stage company, we are particularly impressed with their product and marquee customer base developed globally in a very short span of time, says Ravi Thakur, designated partner, StartupXseed ventures. 

SmartShip has a unique advantage of a powerful promoter team of successful maritime professionals, Singapore headquarters, and a strong technology team. We are glad to have partnered as they disrupt the global maritime domain: BV Naidu, Managing partner StartupXseed ventures.

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