BeeX raises 7-digit Seed Investment
2nd November 2021

While autonomous robotics has impacted how work is done on land, in air, and even in outer space, the underwater world has stayed the same. Humans are still working in dangerous environments be it physically diving, or being mobilised on multi-billion-dollar large vessels, to deploy human-controlled Remotely Operated Vehicles (ROVs).

BeeX believes that Hovering Autonomous Underwater Vehicles (HAUVs) independent of these big boats can provide a sustainable way of large-scale underwater inspections. This will become a fundamental building block in ensuring the safety of coastal cities and accelerating the shift towards renewables, such as floating solar and offshore wind by significantly reducing their operations and maintenance costs.

Today, BeeX is excited to announce a seven-figure seed investment round to operationalise marine autonomy for shallow water, where critical marine infrastructure is under-served. The round is led by Cap Vista, with participation from Quest Ventures – Maritime Fund, IMC Ventures, SEEDS Capital, and the National University of Singapore.

With the new funds, BeeX will expand our team to accelerate development of autonomous capabilities across more diverse and critical environments. We will also commission a more powerful HAUV used for harsher conditions in offshore wind, a unique opportunity of rapid growth in underwater infrastructure as the world adopts renewable energy at an unprecedented rate to achieve net zero.

“BeeX’s marine autonomy technology will revolutionise underwater inspections and disrupt the maritime sector, and contribute to applications in sustainability and defence”, said Chng Zhen Hao, CEO of Cap Vista. “Cap Vista is pleased to be supporting a home grown company building dual-use deep tech capabilities and cultivating its talent pool in Singapore.”

“Although BeeX is a 3-year old startup, its founders Grace and Eng Wei have already started working on the solution since about 9 years ago. AIKANBILIS punches way beyond its size and will transform underwater inspection. Investing at this BeeX round is perfect timing and combination of the team’s vision, capability, their product, the market, and the general macro trend to move into autonomous inspection with AI application.” Chye Poh Chua, Founder of ShipsFocus, and General Partner of the Maritime Fund at Quest Ventures.

Mr James Ong, IMC Ventures’ Investment Committee Member, commented: “The best validation of BeeX’s solution is demonstrated through the demand for their product in the maritime industry. The fact that BeeX has shown the commercially ability sell their solutions on commercial terms validates that the technology works, and the pricing is viable. IMC hopes to help BeeX scale by utilising IMC’s broad network across Asia Pacific”.

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