$4.5-million in seed funding for MarineLabs to advance maritime weather technology

MarineLabs has secured a $4.5-million seed funding round, the largest of its kind in Canadian ocean tech history. The investment, led by BDC Capital's Sustainability Venture Fund and Seaspan Shipyards, a Green Marine participant, will directly benefit Canada's marine industry.

The $4.5 million funding will accelerate product development, expand market reach, and strengthen the company’s position as an industry leader in global weather intelligence.

It will propel MarineLabs forward particularly in terms of its flagship product, CoastAware. The coastal intelligence platform combines real-time data with advanced processing to empower ports, vessel pilots, and maritime operations with informed decision-making capabilities to enhance marine safety, efficiency and sustainability.

“This significant investment is a testament to the confidence our esteemed partners have in our vision and the transformative impact of CoastAware on the maritime sector,” says Dr. Scott Beatty, MarineLabs’ CEO, in expressing gratitude for the support.

Seaspan Shipyards has strategically invested in this funding round as part of its commitment to building a sustainable marine industry in Canada.