In a Pre-series A investment led by Ideaspring Capital and StartupXseed Ventures, the maritime platform Smart Ship Hub secured US $2.5 million.
Since Smart Ship Hub has been profitable since its debut, according to its statement, this is its first round of funding.
Smart Ship Hub’s fleet management SaaS may benefit owners and operators of ships, charterers, marine insurers, and port authorities. Using millions of records, the Marine Insights feature of the Singapore-based company offers actionable insight, intelligent warnings, and performance guidance for a complete fleet.
According to Joy Basu, the creator of Smart Ship Hub, digital platforms are essential for upending marine heritage procedures, as ineffective and antiquated operations on board and ashore are rapidly being replaced by automated remote management.
Although marine boats are the main form of transportation, he continued, the business as a whole has operational inefficiencies, a lack of visibility, and transparency, all of which can result in economic leakages.
Smart Ship Hub will use the money to increase sales and strengthen its digital platform to manage thousands upon thousands of ships. Additionally, it aims to provide clients with better value by charging a small fraction of what they would pay to traditional businesses for a captive performance centre.