Data analytics platform raises $5m in Series A-1 financing

Data analytics platform raises $5m in Series A-1 financing

Maritime data analytics company ioCurrents has raised $5 million in Series A-1 financing led by Imagen Capital Partners to facilitate immediate roll-out of ioCurrents’ MarineInsight data analytics platform.

MarineInsight gathers, analyses and transmits data in real-time over cellular, satellite or WiFi allowing local and remote operators to gain operational insights through an easy to use cloud portal. Predictive alerts are generated to help with decision-making.

The financing round will enable expanded sales and marketing efforts, increased product development, and expansion into new markets MarineInsight.

Cosmo King, co-founder and chief executive officer, ioCurrents, stated: “Our MarineInsight platform has fundamentally disrupted the maritime industry by offering vessel operators and managers unique, on-going, real-time insights into the operational health of their vessels. Operators who employ the platform’s advanced analytics experience more uptime, increased efficiency, and significantly-reduced maintenance costs. This additional investment will allow ioCurrents to build on our existing success, and provide even more value to the maritime industry as a whole.”

First published on Digital Ship.