MarineLabs

Victoria-based MarineLabs has raised $4 million in a seed extension round led by BDC Capital’s Sustainability Venture Fund, with participation from InBC Investment Corp. The maritime weather intelligence company operates a network of rugged, cloud-connected sensors across North America that provide real-time data on wind, waves, and weather.

The new funding will expand MarineLabs’ sensor network and accelerate growth across the continent. CEO Dr. Scott Beatty said the firm’s technology improves maritime safety and efficiency. MarineLabs’ flagship platform, CoastAware, delivers AI-driven forecasts and analytics used by major ports, pilots, and terminals to enhance coastal operations and resilience.

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Victoria-based MarineLabs has introduced Forecast AI, a machine learning model delivering precise, hyper-local coastal weather forecasts. This innovation enhances their CoastAware product, providing real-time weather intelligence for maritime operations. With $4.5 million in seed funding, MarineLabs aims to improve safety, efficiency, and climate resilience.

CEO Dr. Scott Beatty highlighted the model’s ability to address gaps in traditional forecasts using data from their sensor nodes. In a recent study, Forecast AI outperformed existing models by 23% in critical wave height predictions. Currently, 31 buoy locations in Canada and 12 additional sites will have Forecast AI by fall.

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MarineLabs, a Victoria-based maritime weather intelligence technology firm, has secured a record $4.5 million seed funding, the largest for a Canadian ocean tech company. This investment, led by BDC Capital’s Sustainability Venture Fund with participation from Seaspan Shipyards, will boost MarineLabs’ growth, particularly its flagship product, CoastAware.

This innovative real-time weather intelligence solution offers detailed weather data, enhancing maritime safety, efficiency, and sustainability. The funding signifies confidence in MarineLabs’ vision and its potential to transform maritime operations globally. Seaspan’s involvement reflects their commitment to fostering a long-term marine industry in Canada. This investment marks a significant milestone in MarineLabs’ journey to revolutionize the maritime sector.

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