We are delighted to announce that Venturebeam, in collaboration with VentureWave Capital, Endeavor Catalyst, and Enterprise Ireland, has successfully facilitated a €30 million Series B funding round for XOCEAN.
This funding is a significant milestone in accelerating XOCEAN's mission to revolutionise ocean data collection for the sustainable development of our oceans.
Founded in 2017 in Ireland, XOCEAN leverages cutting-edge Uncrewed Surface Vessels to deliver vast amounts of high-quality data safely, efficiently, and with minimal environmental impact.
Their technology supports various industries, notably offshore wind, contributing to the development of 43.1GW of new offshore wind capacity and delivering over 4 million gigabytes of critical data.
XOCEAN's AA+ rating for impact by Venturebeam underscores our commitment to facilitating venture investments that drive positive environmental and social change.
With their innovative approach, XOCEAN is set to prevent the emission of one million tons of carbon over the next five years, showcasing the incredible potential of sustainable technology.
Commenting on the Raise:
James Ives, CEO of XOCEAN: "Our mission is to deliver data that drives the sustainable development of our oceans. We are delighted to have the support of Venturewave Capital, Endeavor Catalyst, and Enterprise Ireland through the Impact-focused Venturebeam platform."
Alan Foy Foy, Chairman of Venturewave Capital: "XOCEAN's innovative approach is crucial for the sustainable growth of the blue economy. We are proud to support their mission to transform ocean data collection."
Adrian Garcia-Aranyos, President of Endeavor:
“The impact XOCEAN is making in the critical field of ocean data is groundbreaking, and underscores the Endeavor mission to support the highest-impact, most innovative entrepreneurs globally.
Since joining the network in 2021, James has been the embodiment of our “pay it forward” ethos, giving freely of his time and advice to other founders to help build a thriving entrepreneurial ecosystem at home and abroad.
We look forward to continuing to work with the whole XOCEAN team, and to charting their success in the years ahead.”
Karen May, CFO of XOCEAN: "This milestone is a clear vote of confidence in our team, technology, and business trajectory."
Leo Clancy , CEO of Enterprise Ireland, said: “Enterprise Ireland is committed to supporting pioneering companies like XOCEAN that are driving innovation and sustainability in their sectors. XOCEAN’s impressive growth and impact demonstrate the significant potential of Irish enterprises on the global stage."
At Venturebeam, we are dedicated to supporting high-impact ventures that align with our values of sustainability and innovation.
XOCEAN exemplifies this commitment, and we are excited to see the positive global impact they will continue to make.
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