Open Ocean Robotics Secures $540,000 CAD in Pre-Seed Financing Round
Open Ocean Robotics closed its Pre-Seed round of financing, raising $540,000 CAD from angel investors and seed funds.
After winning the Spring Impact Investor Challenge last summer and securing a $100,000 investment from Spring Activator angel investors and Social Value Fund, Open Ocean opened its round. Initially targeting a $300,000 raise, the round was oversubscribed and additional investment was accepted to enable the company to more rapidly pursue its goals. The round also included angel investors with deep expertise in building impact and data driven companies and Women’s Equity Lab, an all-female angel investor club.
“We are so pleased to be part of the latest investment round for Open Ocean Robotics and to support a company that we strongly believe is working to protect our global water supply. We are honoured to be working with such a dynamic, transparent and intelligent founding team. We look forward to supporting Open Oceans’s growth.” said Stephanie Andrew, co-founder of the Women’s Equity Lab.
This investment builds on an exceptional year for Open Ocean Robotics, which included winning NACO’s Most Promising Start-up of the Year Award and a top prize in New Ventures BC Competition, as well as completing its first production autonomous boat and demonstrating it in a pilot project with the Canadian Coast Guard.