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Ghent, Belgium-based Sealution, a developer of an onboard connectivity system for predictive maintenance and locating crewmembers below deck, announced on Wednesday, February 15, that it has raised €1.3M in a fresh round of funding.
Out of the total amount, €800K came from an equity round with Venture Studio Miles Ahead and investment fund Angelwise. Another €200K came as a convertible loan from investment platform Techstars, and various business angels.
The Belgian company also raised €315K in subsidies through Flanders Innovation & Entrepreneurship (VLAIO) in September 2022.
Sealution says it will use the capital to switch from development to production (lines).