News Summary

Xocean, an Irish startup specializing in marine robotics, has successfully raised €115 million ($119 million) to expand its operations in ocean data collection using uncrewed surface vessels (USVs). Founded in 2017 by James Ives, Xocean’s fleet of remotely-controlled USVs is equipped with sensors to capture various oceanic data crucial for energy and hydrography industries. This fresh investment will enable Xocean to extend its geographic presence and delve into multiple offshore segments, including wind energy, asset integrity assurance, and carbon capture, usage, and storage.

Xocean’s data supports environmental monitoring, aids in determining optimal locations for new wind turbine installations, and assists in infrastructure maintenance. The company’s clientele includes major players like BP and Shell, as well as government agencies.

The funding round attracted investors such as S2G Ventures, Morgan Stanley’s 1GT fund, and affiliates of the Crown family’s CC Industries (CCI). The financing occurs amidst a growing interest from venture capitalists in climate tech startups that offer practical, revenue-generating solutions today.