Maritime weather intelligence technology company MarineLabs has secured $4.5 million in a round of seed funding, allowing the to advance the development and market reach of its flagship CoastAware real-time weather data product, the British Columbia-based company announced March 13.
BDC Capital’s Sustainability Venture Fund led in the funding, with participation from Seaspan Shipyards.
“MarineLabs’ innovated-in-BC technology aligns with Seaspan’s vision to build a sustained, long-term marine industry in BC and Canada,” Seaspan Senior Vice President of Strategy, Business Development and Communications Dave Hargreaves, said.
Pairing “real-time data from its continent-wide fleet of coastal sensor units with advanced data processing,” CoastAware aims to give users detailed, updated information to make informed decisions, the company said in a statement.
“This significant investment is a testament to the confidence our esteemed partners have in our vision and the transformative impact of CoastAware on the maritime sector,” MarineLabs CEO Scott Beatty said. “Providing reliable real-time data enables sound decision-making within the maritime industry, while equipping governments and coastal communities around the globe to respond to volatile weather and build climate resilience.”
