Saildrone closes $100 million Series C Funding Round to advance ocean intelligence products
by Saildrone 19 Oct 2021 01:20 PDT
Saildrone closes $100 Million Series C Funding Round © Saildrone
Saildrone, the emerging market leader in ocean data, ocean mapping, and maritime intelligence solutions, today announced the close of its $100M Series C round, bringing its total funding to $190M.
Led by BOND, the round includes new investors XN, Standard Investments, Emerson Collective, and Crowley Maritime Corporation, as well as participation from previous investors, Capricorn's Technology Impact Fund, Lux Capital, Social Capital, and Tribe Capital. The new financing will be used to grow Saildrone's data insight teams and scale go-to-market functions to meet the rapidly growing demand for ocean domain intelligence.
Saildrone's products are based on data collected from a fleet of uncrewed surface vehicles (USVs) that are powered primarily by renewable wind and solar power. Saildrone USVs are the most reliable autonomous vehicles on the planet, sailing over 500,000 nautical miles and clocking more than 15,000 days at sea in some of the harshest conditions on the planet. From the ice edge in the high Arctic to the inhospitable Southern Ocean, Saildrone USVs have proven their exceptional endurance and ability to collect rich, high-precision data. Only last week, a Saildrone USV navigated to the heart of Hurricane Sam, in a world first, taking scientific measurements and HD video that stands to transform our understanding of hurricane forecasting.
Saildrone not only collects scientific data for climate intelligence and high-resolution bathymetric mapping of the ocean floor, it also uses proprietary machine learning to provide marine domain awareness (MDA/ISR) for law enforcement and homeland security applications such as policing IUU fishing, counter narcotics operations, and marine sanctuary protection.
"We're thrilled to partner with Saildrone as they build out the future of maritime intelligence, drawing on their unique technological differentiation and expansive mission history to serve customers across diverse industries," said Noah Knauf, general partner at BOND, who will join the company's Board of Directors.
An American owned and operated company founded in 2012, Saildrone's mission is to sustainably explore, map, and monitor the ocean to understand, protect, and preserve our world. Predominantly powered by renewable energy, Saildrone USVs have a minimal carbon footprint and are equipped with advanced sensors and embedded ML/AI technology to deliver critical insights from any ocean, at any time of year.
"We are honored to have the BOND team and our new investors join our journey," said Richard Jenkins, Saildrone founder and CEO. "The combination of the most tried and tested autonomous ocean technology with the partnership of some of the most experienced venture capitalists in the world consolidates our industry leadership and enables our rapid growth path to meet the needs of our customers."