We are delighted to announce that Venturebeam has facilitated a €30 million Series B funding round for XOCEAN, alongside Venturewave Capital, Endeavor Catalyst, and Enterprise Ireland. This investment accelerates XOCEAN’s mission to revolutionise ocean data collection for sustainable development.
About XOCEAN
Founded in 2017 in Ireland, XOCEAN uses Uncrewed Surface Vessels (USVs) to collect high-quality ocean data. Their technology supports various industries, particularly offshore wind, contributing to 43.1GW of new offshore wind capacity and delivering over 4 million gigabytes of data.
XOCEAN’s carbon-neutral technology will prevent one million tons of carbon emissions over the next five years. Their innovative approach ensures minimal environmental impact while delivering critical data.
James Ives, CEO of XOCEAN: “Our mission is to deliver data that drives the sustainable development of our oceans in a safe, cost-effective, and ultra-low-impact way. Today we are providing this service for many of the world’s largest energy companies, supporting the development of clean, renewable energy globally. We are delighted that Venturewave Capital, Endeavor Catalyst, and Enterprise Ireland have chosen to join us on this exciting journey. The Impact-focused Venturebeam platform made the fundraising process efficient and effective, allowing us to seamlessly connect with co-investors who share our commitment to impactful, sustainable investments.”
Alan Foy, Chairman of Venturewave Capital: “XOCEAN is at the forefront of ocean data collection, and their innovative approach is crucial for the sustainable growth of the blue economy. We are proud to support XOCEAN in their mission to transform ocean data collection and contribute significantly to environmental sustainability.”
Adrian Garcia-Aranyos, President of Endeavor: “The impact XOCEAN is making in the critical field of ocean data is groundbreaking and underscores the Endeavor mission to support the highest-impact, most innovative entrepreneurs globally. Since joining the network in 2021, James has been the embodiment of our ‘pay it forward’ ethos, giving freely of his time and advice to other founders to help build a thriving entrepreneurial ecosystem at home and abroad. We look forward to continuing to work with the whole XOCEAN team and to charting their success in the years ahead.”
Karen May, CFO of XOCEAN: “This milestone is a clear vote of confidence in our brilliant team, innovative technology, and the overall trajectory of our business. XOCEAN continues to deliver exceptionally strong revenues and financial performance. We look forward to deploying this new capital to further accelerate our market growth and solidify our leadership.”
Leo Clancy, CEO of Enterprise Ireland: “Enterprise Ireland is committed to supporting pioneering companies like XOCEAN that are driving innovation and sustainability in their sectors. XOCEAN’s impressive growth and impact demonstrate the significant potential of Irish enterprises on the global stage. We are proud to be part of their journey and to support their continued success.”
At Venturebeam, we are dedicated to supporting high-impact ventures that align with our values of sustainability and innovation. XOCEAN exemplifies this commitment, and we are excited to see the positive global impact they will continue to make.
