EYEGAUGE marine-tech startup has successfully secured 535K EUR in seed funding to decarbonize the Maritime Industry by leveraging high-frequency data

EYEGAUGE, the Paris, France and Singapore-based start-up specializing in data collection technology has announced a successful raise of 535K EUR seed financial round led by well-known French Business Angel groups including Mer Angels, Paris Business Angels and BAdGE alongside support from several individual investors. Notably, some of these investors expressed their confidence in eyeGauge after its participation in the BlueInvest Day 2023.

Created in February 2020 EYEGAUGE has developed its unique data collection solution that makes any ship a “smart” ship. Data collection forms a foundation for its Unified Fleet Data Platform that helps Shipowners, Ship Managers and Ship Operators optimize fleet performance, and reduce emissions and fuel consumption by using high-quality and high-frequency data from onboard machinery and equipment. Incubated and accelerated at international hubs ZEBOX in Marseille and Le Village by CA in Paris, France, EYEGAUGE has already secured major clients in Singapore, Greece, and Europe.

The recently secured investment will be strategically allocated to reinforce R&D, expand the go-to-market team, and further enhance the data collection solution and Unified Fleet Data Platform. This financial infusion positions the young company for continued innovation and growth in the maritime industry. This round of financing will be supplemented by public funding, notably from Bpifrance.

Addressing the Maritime Industry Challenge
Digital transformation has helped increase value through innovation, invention, and improved customer experience and boosted efficiency. However, until now, digital transformation solutions required complex equipment upgrades, making automated monitoring of existing machinery and equipment prohibitively expensive to owners, operators and managers.

An affordable solution for maritime digitalisation
To address this challenge, EYEGAUGE has developed a Unified Fleet Data Platform—a universal solution designed for shipowners, ship operators, and ship managers. This platform enables the automated monitoring of vessel performance, fuel consumption, emissions, and machinery status in real-time. Comprising three layers—data collection, data unification, and visualization and analytics—the platform ensures accurate measurement and seamless sharing of equipment and machinery data. This, in turn, facilitates the achievement of decarbonization goals and enhances relationships among industry stakeholders, such as shipowners and charterers. A distinctive advantage of EYEGAUGE’s solution lies in its universal compatibility with any type of machinery and equipment. Notably non-invasive, the system can be effortlessly installed by the ship’s crew, providing a user-friendly and accessible solution for the maritime industry

A few words from the investors.

“ Mer Angels decided to invest in EYEGAUGE recognizing that their innovative and truly unique solution is exactly what the shipping industry needs to digitize and to comply with new shipping IMO regulation in no time.” – Vincent Guiheneuc, Mer Angels board member. “Paris Business Angels (PBA) is delighted to support EYEGAUGE alongside Badge and Mer Angels. The project will make a major contribution to the decarbonization of the maritime sector, by enabling ship performance to be measured and shared through the non-invasive digitization of existing measuring equipment. This will help to improve ship performance, detect anomalies and thus prolong the life of vessels.” Antoine Serceau, investor member of PBA.

Founded in 2004, Paris Business Angels is one of France’s leading networks for investing in and supporting startups. The network brings together nearly 200 investors with a passion for entrepreneurship, who share a common vision: to support the growth of startups in their seed phase. Since its creation, Paris Business Angels has financed and supported over 200 startups in all sectors, helping to stimulate innovation and the local economy.
Source: EYEGAUGE