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March 12, 2024

Subsea Europe Services Gets Multi-Million Dollar Funding Boost

The A.IKANBILIS tehtherless, Hovering Autonomous Underwater Vehicle (HAUV) being launched in the foreground, with the Unmanned Surface Vehicle (USV) Autonomous Surveyor in action in the background (Credit: Subsea Europe Services)

The A.IKANBILIS tehtherless, Hovering Autonomous Underwater Vehicle (HAUV) being launched in the foreground, with the Unmanned Surface Vehicle (USV) Autonomous Surveyor in action in the background (Credit: Subsea Europe Services)

Germany-based autonomous marine survey and underwater inspection solutions provider Subsea Europe Services has completed a strategic multi-million dollar funding round, whose proceeds will be used to simplify marine data acquisition and analysis.

This significant investment marks a pivotal moment in the Subsea Europe Services’ journey towards ‘True Autonomy’, an innovative approach to optimizing marine data workflows through the seamless integration of new-generation sensors and platforms, the company said.

Comprised of 50% private equity and business angels, the investment is complemented by a mirrored contribution from the Mittelständische Beteiligungsgesellschaft Mecklenburg-Vorpommern through the innovative innoGROWTH’ Program, which is renowned for supporting start-ups and medium-sized companies, particularly those focusing on ecological, digital, or social innovations.

The funding will contribute to the growth of the company, with the focus put on attracting more skilled talent and expanding software and hardware development, according Subsea Europe Services.

Key workstreams will be accelerated with the company’s ongoing development of ‘Autonomy Engine’ and expansion of its existing autonomous surface and underwater vessel fleet. The addition of new vehicles will be a significant leap forward in providing more capacity for autonomous survey and inspection services to the offshore wind industry and other marine sectors.

In alignment with this growth trajectory, Subsea Europe Services has strategically decided to relocate its headquarters to Rostock in the Mecklenburg–Western Pomerania region, where the company already has an R&D center.

"The investment represents faith in our vision and mission to simplify the acquisition and analyses of marine data, making it more accessible to more organizations, and at a much lower cost. It enables us to deepen our research and development in autonomous marine technologies, bringing us closer to the reality of ‘True Autonomy’. Further, relocating our HQ to Rostock, a hub of marine innovation, positions us perfectly to harness the expert talent and professional facilities it offers,” said Søren Themann, CEO at Subsea Europe Services.

The February 2024 edition of Marine Technology Reporter is focused on Oceanographic topics and technologies.
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