The U.S. Coast Guard Research Vessel. Photo courtesy Sea Machines via Metal Shark
Boston-based Sea Machines Robotics on Friday announced it has hit its series B investment goal of $20 million after closing on another $5 million from private investors.
The company said the latest close includes follow-on investments to the $15 million it previously raised in its B round from the Brunswick Corporation and their investment partner TechNexus, Toyota AI Ventures and NextGen Venture Partners. Sea Machines also welcomes a new investor, Dolby Family Ventures of San Francisco.
The company’s first close of $15 million, announced in July, included “significant participation” from Huntington Ingalls Industries (HII), America’s leading military shipbuilder.
“We set the goals for this round in March and with this now accomplished we find ourselves in a great position to focus on execution and scaling by growing our team, expanding our product sales and furthering our advanced technology,” said CEO Michael G. Johnson, Sea Machines. “Market adoption of our autonomous and remote command products is well underway and over the next year we will be delivering new cutting-edge technical features, including computer vision for domain sensing and advancements in decision support.”
Headquartered in Boston’s tech hub, Sea Machines was established in 2015 and has grown to become a leader in the development of autonomous systems in the maritime industry. The company in 2018 completed its Series A investment round having raised $10 million, bringing its total investment at the time to $12.5 million. The company has since established development partnerships spanning the private and public sectors.
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