Saildrone: $100M Funding Fuels Robo-Boat Expansion

The Expanding Ocean Economy and Saildrone's Growth

The significance of the ocean economy is steadily increasing, creating a parallel demand for comprehensive ocean mapping, understanding, and tracking. Saildrone has been actively addressing this need through its fleet of autonomous science vessels. The company has recently secured $100 million in Series C funding to further advance its ambitions in the realm of remotely operated boats.

Saildrone's Uncrewed Surface Vehicles

Saildrone’s vessels – known as uncrewed surface vehicles (USVs) – have been consistently deployed for years, undertaking a variety of challenging expeditions that would be impractical or hazardous for traditional human crews. Notably, earlier this month, one of these vessels ventured directly into a hurricane as part of a NOAA project aimed at improving our understanding of these increasingly intense weather events.

Obtaining data from within a hurricane, characterized by 50-foot waves and 120 mph winds, presents significant risks. Utilizing a robotic platform offers a safer and more efficient alternative to risking human lives.

The Value of Marine Intelligence

With a collective travel distance of half a million miles, Saildrone’s fleet represents the most experienced group of autonomous boats currently available. This established position is particularly valuable as marine intelligence gains prominence.

• Knowing ocean conditions is crucial for both scientific research and practical applications.
• This includes guiding ships safely around storms.

The systematic collection of vast data sets will contribute to a deeper understanding of the complex aquatic ecosystem, especially in the context of climate change and the development of sustainable aquaculture practices.

Competition in the Autonomous Marine Sector

Saildrone has become a leading name in autonomous science boats. However, other companies are also entering the “blue economy” from different angles. Sea Machines is developing autonomous tugs and commercial vessels, having recently completed a 1,000-mile autonomous sailing demonstration.

EcoDrone and Sea Proven are focusing on competing with smaller, more customizable ships. Furthermore, a separate market is emerging for underwater drones, such as those developed by Bedrock, which are designed for seabed mapping.

Saildrone's New Capabilities and Expansion Plans

Saildrone continues to innovate, with its newest vessel, the Surveyor, capable of remaining at sea for a year and mapping the ocean floor to depths exceeding two miles. These advanced vessels represent a significant investment, and to maximize its share of the “ocean domain intelligence” market, the company must rapidly scale its operations.

The recent funding is intended to facilitate this expansion.

Investment Details and Future Outlook

The Series C funding round was led by BOND, with participation from XN, Standard Investments, Emerson Collective, Crowley Maritime Corporation, Capricorn’s Technology Impact Fund, Lux Capital, Social Capital, and Tribe Capital. The funds will be used to expand “data insight teams” and invest in “go-to-market functions,” which essentially translates to increasing boat production.

According to Saildrone CEO and founder Richard Jenkins, “The combination of the most tried and tested autonomous ocean technology with the partnership of some of the most experienced venture capitalists in the world consolidates our industry leadership and enables our rapid growth path to meet the needs of our customers.” Further advancements and deployments from Saildrone are anticipated as the company continues to grow.