Smart Ship Hub (SSH), a software-as-a-service (SaaS) maritime digital automation solutions company has raised a pre-series round of $2.5 million to further develop its ready-to-deploy digital platform for global maritime logistics. The round has been led by Ideaspring Capital and StartupXseed Ventures.
SSH provides cloud-based and on-demand digital services to deliver a single source of truth for shipowners, operators, charter parties, maritime insurers, and port authorities to help combat vessel operational inefficiencies, lack of visibility and transparency, commercial leakages, and ultimately improve vessel uptime.
Smart Ship Hub Digital is an easy-to-deploy digital remote vessel management platform that identifies machinery malfunctions and predicts possible downtime. It detects performance deviations to improve voyage and vessel performance. Using big data, actionable intelligence, smart alerts, and performance advisories for entire fleets are provided. The platform’s Performance Advisory feature has reportedly helped reduce ship incidents, saving maintenance costs and fuel consumption.
According to SSH, its digital platform is helping its customers to achieve minimal breakdown maintenance, optimum fuel utilisation, total compliance including for emissions, cost optimisation with condition-based maintenance, and ensure a high level of voyage control.
SSH is suited to all ship types including merchant ships, naval ships, oil rigs, river-going barges and fishing vessels.
The funding from Ideaspring Capital and StartupXseed will be used to help SSH expand its product IP and global customer support.
“Digital platforms will play a fundamental role in disrupting maritime legacy processes. Inefficient and legacy workflows in ships and shore is gradually giving way to automated remote management. The funds raised will allow us to pass on more value to our customers globally. Customers will now have a captive performance centre for a fraction of the cost they incur today. Shipowners, operators, charter parties can get a digital upgrade for “zero” CAPEX, allowing them to unblock their capital and upgrade more vessels,” said Joy Basu, founder of Smart Ship Hub.
“Ideaspring Capital is very happy to be part of Smart Ship Hub’s growth and its journey towards being the digital platform of choice for global maritime companies. The maritime industry has embarked on a journey of digital transformation and Smartship is poised to take advantage through their world-class solution. We are very impressed with the Smart Ship Hub team and their product” said Naganand Doraswamy, managing partner, Ideaspring Capital.
“StartupXseed is a sector agnostic fund with investments from SaaS to Space (Tech), including the areas of cybersecurity, Semicon, AI/ML, drones and new frontier start-ups in India with a global focus. Smart Ship Hub is an early growth stage company and we are particularly impressed with the product and marquee customers base they have built globally in a very short span of time,” commented Ravi Thakur, designated partner, StartupXseed Ventures.