The funds will be used to focus on industrialisation and bringing AnchorGuardian to market in 2023.
Swiss Ocean Tech has successfully closed a pre-series A financing round of CHF1’500’000 (approximately USD$1.5M). The Zurich-based startup focuses on bringing safety to anchoring for sailor, ship and sea.
Their patented AnchorGuardian technology minimises the risk of an anchor dragging by providing predictions and immediate alarms for superyachts, leisure boats, fishing vessels, and merchant ships. It fundamentally replaces the ‘rule-of-thumb’ methodology with actionable data insights and real-time feedback. It lets the captains know what the anchor is seeing and feeling.
Anchor dragging remains a huge issue for the yachting and superyachting industry and is estimated to account for around 5% of annual claims value, according to research conducted by Swiss Ocean Tech alongside major marine insurance companies. This equates approximately to an annual claim value of +US$500 million, and +28,000 casualties per year.
Swiss Ocean Tech raised a first funding round back in 2020, and the team of international co-founders have since successfully run a pilot project with a 43m superyacht as part of their R&D efforts. They are also partnering with one of the largest shipping companies in the world, who not only invested but signed a LOI to equip their vast fleet with AnchorGuardian once on the market.
Commenting on this latest round, founder Thomas Frizlen reflects the continued trust and enthusiasm felt by the investors. “I am incredibly proud to have this group of investors who believe in our vision of safe anchoring and who are accompanying us along on our young journey. Even as a land-locked country, our Swiss investors understand the need for innovation when it comes to the health of our oceans and the safety of all seafarers. Our strategic partners from the superyacht and shipping industry are invaluable supports enriching our team with their insights and expertise. With the additional capital, we can expand our team with the necessary talent, industrialize and bring AnchorGuardian to market in 2023.”
Frizlen added, “The focus of our efforts is safe anchoring. For that to succeed, the process has to become simpler. We are giving captains the information and control they need to set the anchor in the best possible way and to monitor it in real time while anchoring. We are taking the principle of anchor watch to the next level.”
In 2022, Swiss Ocean Tech was nominated as a finalist in the Oceans Awards, held in partnership with BOAT International and the Blue Marine Foundation, celebrating the achievements of individuals, groups and organisations from around the world dedicated to restoring the health of our oceans.