Xocean: Riding the Wave of Ocean Data Innovation
Imagine navigating the vast oceans without setting foot on a vessel. This is the reality Xocean offers, an Irish marine robotics startup that’s redefining how we gather ocean data. Recently, they’ve made headlines by securing €115 million ($119 million) in funding, with ambitious plans to broaden their horizons into new sectors.
Since its inception in 2017, Xocean has been at the forefront of marine innovation with its fleet of uncrewed surface vessels (USVs). These remotely controlled marvels can stay offshore for extended periods, equipped with advanced sensors that capture intricate datasets—from high-resolution ocean depths to the geological intricacies beneath the seafloor. Satellites play a crucial role here, facilitating remote control and seamless data transmission back to land.
- High-resolution depth and seafloor topography
- Subsurface sediment layers
- Geological structure data
With heavyweight clients like BP and Shell, as well as various government agencies on board, Xocean is making waves in the industry. The mastermind behind this innovation is James Ives, who previously led OpenHydro before its acquisition by Naval Energies (then DCNS) for $173 million. His vision? To provide data that spurs sustainable ocean development while maintaining safety and minimizing environmental impact.
“Our mission is to deliver data that drives the sustainable development of our oceans in a safe, cost-effective, and ultra-low-impact way,” said Ives.
{James Ives, Founder of Xocean}
This investment arrives at a critical juncture. The climate tech sector is experiencing a renaissance, with venture capitalists increasingly supporting startups that offer immediate revenue-generating solutions. Xocean fits this mold perfectly.
Oceans are not only climate regulators but also prime locations for wind farms and global data transfer infrastructure. By harnessing Xocean’s capabilities, stakeholders can monitor environmental shifts, determine optimal sites for wind turbines, and even ensure infrastructure integrity.
Since its launch, Xocean has amassed approximately $189 million in funding. With this latest financial boost, the company is set to expand geographically and across various offshore segments such as wind energy, asset integrity assurance, carbon capture and usage (CCUS), and civil hydrography.
This round of investment was driven by S2G Ventures—a firm that emerged from Builders Vision—and other notable investors like Climate Investment (CI), Morgan Stanley’s 1GT fund, and an affiliate of the Crown family’s CC Industries (CCI).
Xocean is not just riding the wave; it’s shaping the future of oceanic exploration and sustainability.
