What is Xocean?
Founded in Ireland in 2017, XOCEAN has redefined offshore geophysical data acquisition by deploying a fleet of advanced Uncrewed Surface Vessels (USVs). These remotely operated vessels are engineered for extended mission endurance, equipped with state-of-the-art sensors and real-time communication capabilities. XOCEAN offers a cost-effective and flexible solution for offshore geophysical data needs, distinguishing itself with a low-carbon operational model that emits a fraction of the CO2 compared to traditional manned surveying vessels. This commitment to sustainability positions XOCEAN as a leader in reducing the environmental impact of offshore operations, aiming to avoid millions of tons of carbon emissions while fostering significant gender diversity within its teams.
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 Enterprise Ireland and European Investment Bank
Debt (2024): $26M led by European Investment Bank
Series B (2024): $39M supported by Enterprise Ireland, VentureWave Capital, and Endeavor Global
Other Financing Round (2025): $118.6M featuring S2G Ventures, Morgan Stanley, and Climate Investment Funds
Key Investors in Xocean
S2G Ventures
S2G Ventures is a multi-stage venture fund focused on the food and agriculture sector, investing in companies that address evolving consumer demands for healthy and sustainable products. They seek to invest in market leaders across the entire food supply chain.
Enterprise Ireland
Enterprise Ireland is a government agency dedicated to fostering the growth and development of Irish businesses in manufacturing and internationally traded services, providing support for innovation and expansion.
VentureWave Capital
VentureWave Capital is a global investment firm that invests in impactful technology companies across various sectors, with a focus on health, education, and sustainable finance, aiming for long-term value creation and sustainable growth.
What's next for Xocean?
With substantial enterprise-level funding and a recent strategic investment, XOCEAN is poised for accelerated growth and technological advancement. The company's focus on sustainable, low-carbon offshore surveying solutions aligns with increasing global demand for environmentally conscious operations. Future strategic initiatives will likely involve expanding its USV fleet, enhancing sensor technology, and broadening its service offerings to new geographical markets. This capital infusion will also support further development of its data processing capabilities and reinforce its position as an industry leader in innovation and diversity within the maritime technology sector.
See full Xocean company page
