After FocalPoint raised £23M to improve GPS accuracy and Zero North secured $50M to decarbonise the shipping industry, Berlin-based software startup Kaiko Systems has secured €2 million in seed funding. The investment round was led by several investors, including Schoeller Holdings, Vineta Ventures, A Round Capital, Flagship Founders, and industry experts such as Clasen Rickmers and Justus Kniffka.
Growth plans on cards
Kaiko Systems will use the capital to grow its team, further advance its software solution, and expand into new geographies.
Schoeller Holdings is the company behind one of the most respected ship management companies in the world, Columbia Shipmanagement. “We benefit tremendously from the deep expertise of Schoeller Holdings that will further support our mission of contributing to a safer, smarter, more collaborative maritime industry,” said Fabian Fussek, Co-Founder and CEO of Kaiko Systems.
“Maritime shipping is the backbone of the global supply chains, but for various reasons only at the beginning of digitisation. We have a unique opportunity here to play a significant role in shaping the future of this industry,” said Fabian Fussek. “I am particularly pleased that renowned experts share our vision and have invested into the value our innovative solution represents.”
Eddy del Valle, Co-Founder & Chief Technology Officer (CTO) added: “This investment is a testament to the great work that the team of Kaiko Systems is consistently delivering. I am very proud of our people and look forward to bringing further talent on board.”
Mark O’Neil, President of Columbia Shipmanagement, is also convinced by Kaiko Systems’ solution said, “The Kaiko Systems team has outstanding knowledge in building digital products. Equipped with deep industry expertise, the company has already proven itself in the market. The shipping industry needs companies such as these, to drive digital transformation. The need for advanced digital solutions especially in the area of data acquisition and analysis on technical management is huge. Kaiko Systems is only at the beginning and has great potential and we are delighted to be part of this development.”
Digitises maritime operations
Though 90% of traded goods are transported via the oceans, most technical operations are still based on paper and Excel, leading to inefficient operations, heavy workloads, and high rates of human error in maritime operations, contributing to nearly 75% of incidents at sea.
Eddy del Valle and Fabian Fussek founded Kaiko Systems in 2020 in Berlin to make shipping safer, smarter, and more collaborative. The company has developed a smart and user-friendly data collection and analysis tool that provides shipping companies and their stakeholders with comprehensive insights into the manual part of technical operations, such as inspection and maintenance. The automated, AI-based analysis then provides the shore teams with data-based insights on potential risks and efficiency gains.
Its mobile-first app streamlines technical operations such as maintenance and inspections for ship crews. This improves quality, enables data to be collected on the job, and reduces time spent on manual tasks.
