What is Xocean?
Founded in 2017 in Ireland, Xocean has fundamentally transformed the delivery of offshore geophysical data. The company utilizes a proprietary fleet of Uncrewed Surface Vessels (USVs) that integrate advanced sensor technology with real-time communication capabilities. This technological stack allows for the delivery of high-fidelity data while maintaining a minimal carbon footprint, with the company's operations emitting only 0.1% of the CO2 associated with conventional manned surveying vessels.
Beyond its environmental impact, Xocean distinguishes itself through a commitment to operational excellence and diversity. By achieving team gender diversity metrics significantly higher than the industry average, the firm is setting new benchmarks for corporate culture within the maritime engineering space. Its ability to provide cost-effective, flexible, and sustainable surveying solutions has made it a preferred partner for clients seeking to optimize their offshore data acquisition strategies while meeting stringent ESG mandates.
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 VentureWave Capital, Endeavor Global, and Enterprise Ireland
Other Financing Round (2025): $118.6M featuring Morgan Stanley, Climate Investment Funds, and S2G Ventures
Key Investors in Xocean
Morgan Stanley
A leading global financial services firm providing a wide range of investment banking, securities, wealth management, and investment management services to corporations and institutions worldwide.
S2G Ventures
A multi-stage venture fund that invests in entrepreneurs whose products and services meet the shifting demands for healthy and sustainable systems, focusing on innovation across the supply chain.
VentureWave Capital
A global investment firm focused on transforming the investment landscape by backing impactful technology companies across various sectors, with a strong commitment to long-term value creation.
What's next for Xocean?
With the support of its latest financing, Xocean is well-positioned to scale its operations globally and expand its technological capabilities. The company's strategic roadmap focuses on increasing the endurance and sensor capacity of its USV fleet, enabling more complex missions in challenging offshore environments. As the demand for high-quality geophysical data grows in tandem with the expansion of offshore wind and subsea infrastructure, Xocean's low-carbon model provides a distinct competitive edge.
The firm is expected to leverage this capital to further penetrate international markets, potentially setting the standard for the next generation of autonomous maritime surveying. By maintaining its focus on innovation and sustainability, Xocean is poised to avoid millions of tons of carbon emissions over the coming decade, solidifying its role as a leader in the decarbonization of the global maritime industry.
