What is Xocean?
Founded in Ireland in 2017, XOCEAN has distinguished itself by deploying a fleet of Uncrewed Surface Vessels (USVs) for offshore geophysical data acquisition. These advanced USVs are engineered for extended missions, integrating sophisticated sensors, real-time communication capabilities, and efficient post-processing. This technology offers clients a flexible and cost-effective alternative to traditional manned surveying vessels. Notably, XOCEAN's low-carbon fleet emits a mere 0.1% of the CO2 produced by incumbent vessels, positioning the company as a leader in sustainable offshore operations and aiming to prevent millions of tons of carbon emissions over the next decade, while also championing industry-leading gender diversity.
How much funding has Xocean raised?
Xocean has raised a total of $194M across 4 funding rounds:
Series A
$10.4M
Debt
$26M
Series B
$39M
Other Financing Round
$118.6M
Series A (2021): $10.4M with participation from European Investment Bank and Enterprise Ireland
Debt (2024): $26M led by European Investment Bank
Series B (2024): $39M supported by VentureWave Capital, Enterprise Ireland, and Endeavor Global
Other Financing Round (2025): $118.6M featuring S2G Ventures, Morgan Stanley, and Climate Investment Funds
Key Investors in Xocean
VentureWave Capital
VentureWave Capital is an investment firm focused on transforming the investment landscape, investing in impactful technology companies across various sectors such as health, education, and sustainable finance.
Enterprise Ireland
Enterprise Ireland is a government agency responsible for the development and growth of Irish businesses in the manufacturing and internationally traded services industries.
European Investment Bank
The European Investment Bank (EIB) is the European Union's nonprofit long-term lending and finance institution, established in 1958.
What's next for Xocean?
With the infusion of major enterprise-level funding and a recent strategic investment, XOCEAN is well-positioned for accelerated expansion and technological advancement. The company's commitment to sustainability, evidenced by its low-carbon USV fleet, aligns with growing global demand for environmentally responsible solutions in the energy and maritime sectors. This capital infusion is expected to bolster XOCEAN's operational capacity, enhance its technological offerings, and solidify its market leadership in providing efficient and eco-friendly offshore geophysical data services. The company's focus on innovation and sustainability suggests a strategic path toward further market penetration and the development of next-generation surveying technologies.
See full Xocean company page
