Norwegian-Portuguese tech innovator Nortech AI announced that it has secured €2.5M in a seed round of funding from Indico Capital Partners and Earlybird-X.
With the funding, Nortech AI seeks to push the maritime industry’s transition from reactive to proactive use of data, catalyzing a new era of cost savings and environmental conservation through reduced greenhouse gas emissions.
The AI company discovered its niche as the maritime industry began addressing the lack of connected information systems and the waste of resources in recent years.
As the maritime industry begins shifting to light fuel oil, the need for advanced AI technology to track the fuel’s usage becomes increasingly in demand.
Popular uses of AI in the maritime industry include optimizing navigation and routes, estimating fuel consumption with higher accuracy, maintaining equipment and vessels, and procuring real-time information on port density and traffic.
Nortech AI uses a plug-and-play solution to offer remote commissioning and capture and use industrial IoT data to its clients.
Ultimately, the startup aims to interconnect various industrial needs from data analytics to process automation. Nortech AI will also expand the use of its platform and products in other industries thanks to the assistance from its latest funding round.
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