To tackle maritime industry’s carbon impact, Greywing received US $2.5 M seed funding
Greywing, a Singapore-based business that develops operating systems for the marine industry, has received a preliminary investment of US $2.5 million.
Flexport, Transmedia Capital, Signal Ventures, Motion Ventures, Rebel Ventures, Entrepreneur First, and Y Combinator are among the investors (YC).
Greywing was a member of the winter 2021 batch at YC.
Greywing’s real-time carbon scoring solution will be launched with additional funding. This technology will allow maritime firms to make judgments about shore-based operations, flight reservations, and voyage route deviations, among other things, in order to reduce the carbon footprint of crew shifts.
The solution is part of Greywing’s new Crew Change tool, which gives vessel owners access to the variables affecting seafarers’ management, especially as COVID-19 regulations and limitations make operations at each port more difficult.
“The factors impacting a maritime voyage have grown in complexity with climate change and COVID-19 being thrown into the mix, and Greywing’s traction is accelerating to match the pace of these evolving challenges,” said Greywing CEO Nick Clarke.
Greywing was founded in 2019 with the goal of assisting and automating ship operators’ decision-making through actionable intelligence, better data, and better communication.
Route intelligence tool CRY4, vessel monitoring system Flotilla, port-agent communications tool Semaphore, and crew management and analysis system Landfall are the company’s four product lines.
Greywing caters to the maritime industry with its web-first and user-centered operating system, which addresses a variety of issues that arise throughout the voyage, such as crew changes, piracy incidents, and vessel risk. The method has been used to evaluate over 1,400 staff changes, according to the business.
“The maritime industry has entered a new era where data and analytics supercharge actionable digital solutions,” said Nikolas Pyrgiotis, VP of Technology Ventures for Signal Group. “Greywing integrates data trapped in commercial, technical and crewing siloes to enable more efficient and sustainable operations for shipping companies.”
Greywing wants to enhance efficiency across the carbon, threat, and cost verticals by optimising choices even before its clients’ crewing operations take action, according to CTO Hrishi Olickel.
Maritime transport accounts for about 2.5 percent of global greenhouse gas emissions, with around 940 million tonnes of CO2 released annually, according to the third IMO GHG study. If steps are not taken quickly enough, the Paris Agreement’s goals will be jeopardized.
According to Greywing, untracked flights and other down-the-line expenditures in the operating supply chain account for 35% of marine emissions. Furthermore, the reduction in carbon emissions achieved by Greywing’s new carbon footprint tracking technology for a single vessel is comparable to removing 274 vehicles from the road each year.
