EPS invests in nine startups

In 2019, EPS partnered with Techstars to create the Eastern Pacific Accelerator, a mentorship-based program that has invested in 18 maritime startups to date. The company has now invested in an additional seven startups through its partnership with Techstars and another two startups outside of the program.

The companies chosen are:

Graphite Innovation & Technologies: The company uses a patented graphene-based technology to make dramatic reductions in hull-fouling.

Marine Edge: The company invented technology that extracts more energy from shaft generators.

Marlo: The company is building the maritime and transportation industry’s first neo-bank (online only bank): a $1 trillion market opportunity.

Seabound: The company is building a patented carbon capture solution to recycle the one billion tons of CO2 emanating from the shipping industry.

Sanchip: The company is making the world’s smallest ‘lab-on-a-chip’ that sits on a vessel and analyses its lubricants real-time to predict problems and downtime.

qualiTEAS: The company uses computer vision to instantly detect corrosion and damage in the maritime and energy industries.

Sealution: The company has built the world’s first and cheapest communication system that can go through the steel walls of a vessel.

Swiss Ocean Tech: The company is building the shipping industry’s smartest anchors.

i4sea: The company is a micro-weather prediction specialist that helps the shipping industry save time and money.

The Eastern Pacific Accelerator attracted hundreds of applicants from across the world, and all went through a rigorous and proven evaluation process that resulted in seven founders joining the accelerator and receiving a financial investment.

All nine companies will benefit from the decades of experience within the EPS organisation, including access to mentors, industry experts, potential customers, and additional funding opportunities.

EPS Special Advisor for Innovation, Gil Ofer said: “Our platform is designed to help entrepreneurs connect with internal and external mentors, customers and investors. The technology only plays one part in our investment decisions. The people behind the tech are more important. We want to see a strong team with visionary, resilient, and passionate founders. We like to invest in the people because even if the tech doesn’t work out as a business, we know we have bright individuals who will use that as a stepping stone for the next venture – and we want to be part of that journey.”

Dhritiman Hui, who manages the EPS Techstars partnership, feels optimistic about an array of opportunities that exist in the maritime tech space: “Decarbonisation is the shipping industry’s electric vehicle moment. Just like a Tesla came out of left field and out manoeuvred most of the auto industry, we feel similar opportunities will emerge in the shipping industry. We are also pleased to have invested in the shipping industry’s first neo-bank. Neo-banks have created tens of billions of dollars of value in the traditional banking industry, and – given the gaps that exist – it’s inevitable that something similar will happen in this industry. Parallel to this, we have invested in companies whose IP is just exceptional.”