Venturewave managing partners Brian Martina and Alan Foy picture with Xocean founder James Ives and chief financial officer Karen May.
The company, founded by former OpenHydro chief executive James Ives in 2017, provides data collection solutions such as environmental monitoring and seabed surveys. It said the funding will accelerate the company’s international growth and drive further technical innovation. As part of this round, Xocean secured €20 million in venture-debt funding from the European Investment Bank.‘I remember what it was like to count my pennies. Money allows me to live a life I’ve always dreamed of’The global blue economy is experiencing substantial growth driven by industries such as offshore wind. However, the data to support this growth is difficult to acquire.