Norwegian-Portuguese tech innovator Nortech AI has raised €2.5 million in seed funding. The investment came from Indico Capital Partners and Earlybird-X, both funds investing in climate tech companies.
Nortech AI uses its plug-and-play solution to address the lack of connected information and resource wastage in the maritime industry. This solution allows for remote commissioning, captures and effectively utilises industrial IoT data, and enables vessels and businesses to make real-time decisions and improve their operations.
With this round, Nortech AI intends to interconnect various industrial needs, ranging from data analytics to process automation, not only in the maritime sector but also in multiple industrial settings in the future.
End-to-end industrial IoT solution
Founded by Francisco Roque in 2021, Nortech AI has offices in Bergen and Lisbon. It leverages scalable data models, developed with live operational and simulation data, which can be customised and reused for various use cases.
With Nortech AI, vessels and their respective businesses can speed up their digital initiatives, thus making real-time decisions, and enhancing their operations. It functions through the use of scalable data models built with live operational data and simulation data.
The company’s platform is designed to assist the maritime market and other asset-heavy industries in shifting to data-driven decision-making, enhancing their capability to reduce greenhouse gas emissions and fostering sustainability.
It will enable a new era of cost savings and environmental conservation through reduced greenhouse gas emissions.
Stephan Morais, Managing General Partner of Indico Capital Partners, stated: “The maritime industry is ripe for the implementation of software that helps it become more sustainable. Nortech´s software is fast to integrate with existing systems onboard and therefore allows ships´ operations to become more sustainable immediately. We are proud to be supporting this transition of the global maritime industry with our Blue Fund.”
Michael Schmitt, Partner Earlybird-X, commented: “Industrial IoT is a critical conduit for streamlined, intelligent, and sustainable operations. Nortech AI simplifies the digitalisation journey, empowering industries to become more data-driven without hassle.”
Francisco Roque, Nortech AI’s CEO said: “Our mission is steeped in simplicity and efficiency. We envision a world where businesses leverage the power of industrial IoT without the accompanying complexities. It’s about creating a future where digitalisation is not a hurdle, but a pathway to sustainable and smart operations.”
