SoftBank Ventures Asia leads US$5.8m round in maritime tech startup Seadronix

SOFTBANK Ventures Asia, the early stage venture capital arm of Japanese conglomerate SoftBank Group, on Tuesday (May 10) announced it has led a US$5.8 million funding round in maritime technology startup Seadronix.

Founded in December 2015 by the Korea Advanced Institute of Science and Technology, Seadronix provides AI-based solutions for the maritime industry, such as autonomous navigation and a berthing monitor system.

The South Korean startup will use the fresh funds to grow its team from the current estimated headcount of 30, recruiting experts in AI, sensor fusion and navigation.

It also aims to expand overseas, from its 3 offices in South Korea to countries with global ports and heavy industries, with an eye for Singapore first.

Along with the new capital, the startup has raised US$8.3 million so far.

Daniel Kang, senior partner at SoftBank Ventures Asia, said: "Seadronix has set an exemplary model in the autonomous navigation market with commercialised AI products and accumulated maritime data."