BeeX, a Singapore-based pioneer in providing autonomous robotics solutions to safeguard underwater infrastructures, has recently closed its USD 2M bridge round, oversubscribed. The latest round is co-led by Earth Venture Capital and ShipsFocus Ventures with the participation of SEEDS Capital, NUS Technology Holdings, and Infinita VC.
With the rapidly growing volume of underwater structures, our world needs more reliable solutions than sending divers into the subsea environment. BeeX officially launched its flagship Hovering Autonomous Underwater Vehicle (HAUV) - A.IKANBILIS only in 2022, and has since consistently outperformed existing systems in the market.
With recurring clients in Asia and Europe, BeeX has proven the economic attractiveness of autonomous operations to asset owners and has the vision to deploy this cutting-edge maintenance solution in maritime, energy, environment and defense industries.
"BeeX rides on our decades-long and continuous data gathering for underwater autonomy. Our robots and software solutions help energy developers, ship owners, and governments save costs to inspect their critical structures, as well as protect their people from risky operations. Our customers have reported up to 95% less CO2 emission, 50% lower risk-to-life, and 10x better efficiency compared to conventional methods. I am grateful for our supportive investors, whose funding will grow BeeX’s ability to help our customers become more sustainable and profitable.” said Grace Chia, CEO and Co-founder of BeeX.
By the end of 2024, BeeX aims to launch the next-gen HAUV, BETTA - to address the demands of offshore wind inspection. BETTA will have 10x greater power, 3x more endurance and 4x higher computing prowess. The system will leverage the fast iteration of autonomy on its smaller sibling, A.IKANBILIS.
"The innovative solutions and the vision presented by BeeX align perfectly with Earth Venture Capital's commitments to decarbonise the maritime sector, which mostly relies on fossil fuel. We are excited to co-lead this funding round and become a long term partner to support BeeX in their future mission.” said Linh Nguyen, General Partner of Earth Venture Capital.
To date, BeeX has already changed how ship hulls, underwater infrastructures, and floating solar inspections are conducted in Singapore, along with the solid tractions in Germany, the Netherlands, and the US. The funds will be dedicated to accelerating BeeX's go-to-market for autonomous offshore wind farm inspections in Europe. It also underscores the confidence that investors have in BeeX's team, and the value of their disruptive technology in underwater operations.
"Grace and her team have built a unique technology and positioned it for a perfect new energy tailwind. This round is appropriately structured to support BeeX in its European mission for gainful traction. Better things will happen.” said Chua Chye Poh, CEO at ShipsFocus Ventures.