By AI Trends Staff
The ability to add automation to an existing marine vessel to make it autonomous is here today and is being proven by a Boston company.
Sea Machines builds autonomous vessel software and systems for the marine industry. Founded in 2015, the company recently raised $15 million in a Series B round, making it total raised $27.5 million since 2017.
Founder and CEO Michael G. Johnson, a licensed marine engineer, recently took the time to answer via email some questions AI Trends poses to selected startups.
Describe your team, the key people
Sea Machines is led by a team of mariners, engineers, coders and autonomy scientists. The company today has a crew of 30 people based in Boston; Hamburg, Germany; and Esbjerg, Denmark. Sea Machines is also hiring for a variety of positions, which can be viewed at sea-machines.com/careers.
What business problem are you trying to solve?
The global maritime industry is responsible for billions in economic output and is a major driver of jobs and commerce. Despite the sector’s success and endurance, it faces significant challenges that can negatively impact operator safety, performance and profitability. Sea Machines is solving many of these challenges by developing technologies that are helping the marine industry transition into a new era of task-driven, computer-guided vessel operations.
How does your solution address the problem?
Autonomous systems solve for these challenges in several ways:
These areas of value overlap for all sectors but for the government and military sector, new on-water capabilities and unmanned vessels are a leading driver. By contrast, the commercial sector is looking for increased productivity, efficiency, and predictable operations. Our systems meet all of these needs. Our technology is designed to be installed on new vessels as well as existing vessels. Sea Machines’ ability to upgrade existing fleets greatly reduces the time and cost to leverage the value of our autonomous systems.
How are you getting to the market? Is there competition?
Sea Machines has an established dealer program to support the company’s global sales across key commercial marine markets. The program includes many strategic partners who are enabled to sell, install and service the company’s line of intelligent command and control systems for workboats. To date, Sea Machines dealers are located across the US and Canada, in Europe, in Singapore and UAE. We have competition for autonomous marine systems, but our products are the only ones that are retrofit ready, not requiring new vessels to be built.
Do you have any users or customers?
Yes we have achieved significant sales traction since launching our SM series of products in 2018. Just since the summer, Sea Machines has been awarded several significant contracts and partnerships:
In the second half of 2020 we are also commencing onboard collaborations with some crew-transfer vessel (CTV) operators serving the wind farm industry.
How is the company funded?
The company recently completed a successful Series B round, which provided $15M in funds, with a total amount raised of $27.5M since 2017. The most recent funds we were able to raise are going to significantly impact Sea Machines, and therefore the maritime and marine industries as a whole. The funds will be put to use to further strengthen our technical development team as well as build out our next level of systems manufacturing and scale our operations group to support customer deployments. We will also be investing in some supporting technologies to speed our course to full dock-to-dock, over-the-horizon autonomy. The purpose of our technology is to optimize vessel operations with increased performance, productivity, predictability and ultimately safety.
In closing, we’d like to add that the marine industries are a critically significant component of the global economy and it’s up to us to keep it strong and relevant. Along with people, processes and capital, pressing the bounds of technology is a key driver. The world is being revolutionized by intelligent and autonomous self-piloting technology and today we find ourselves just beyond the starting line of a busy road to broad adoption through all marine sectors. If Sea Machines continues to chart the course with forward-looking pertinence, then you will see us rise up to become one of the most significant companies and brands serving the industry in the 21st century.
Any anecdotes/stories?
This month we released software version 1.7 on our SM300. That’s seven significant updates in just over 18 months, each one providing increased technical hardening and new features for specific workboat sectors.
Another interesting story is about our Series B funding, which, due to the pandemic, we raised virtually. Because of where we are as a company, we have been proving our ability to retool the marine industry with our technology, and therefore we are delivering confidence to investors. We were forced to conduct the entire process by video conference, which may have increased overall efficiency of the raise as these rounds traditionally require thousands if not tens of thousands of miles of travel for face-to-face meetings, diligence, and handshakes. Remote pitches also proved to be an advantage because it allowed us to showcase our technology in a more direct way. We did online demos where we had our team remotely connected to our vessels off Boston Harbor. We were able to get the investors into the captain’s chair, as if they were remotely commanding a vessel in real-world operations.
Finally, in January, we announced the receipt of ABS and USCG approval for our SM200 wireless helm and control systems on a major class of U.S.-flag articulated tug-barges (ATBs), the first unit has been installed and is in operation, and we look forward to announcing details around it. We will be taking the SM200 forward into the type-approval process.
Learn more at Sea Machines.