XOCEAN Venturewave Capital investment marks a significant milestone in Ireland’s blue economy. XOCEAN, the Irish-based international ocean data company, has secured a significant €8 million Series A round led by Venturewave Capital to scale its carbon-neutral fleet and grow its impact across global markets.

Valued at over €100 million, XOCEAN is accelerating the decarbonisation of the offshore industry and is on track to displace one million tonnes of CO₂ emissions over the next five years. Venturewave Capital led the investment via its Impact Ireland Fund, launched in 2020 to back high-growth, mission-led companies with measurable societal benefits.

Tripling Growth and Scaling Operations

Having tripled revenue for two consecutive years, XOCEAN is transitioning from disruptor to global leader. The new capital will enable:

  • Headcount growth from 100 to 350 employees within 24 months
  • Expansion of its Uncrewed Surface Vessel (USV) fleet from 20 to 60+
  • Prevention of over 5 million seafarer exposure hours
  • Displacement of over 1 million tonnes of CO₂ emissions

 

Karen May, XOCEAN’s CFO, said:

“This is a major milestone. 2021 was a strong year for financial performance. We’re now focused on scaling responsibly and retaining leadership in this high-growth sector.”

Sustainable Marine Data Collection

XOCEAN delivers safe, carbon-neutral marine data using proprietary robotic USVs across key sectors such as offshore wind, subsea infrastructure, and environmental monitoring. With over 100 projects and more than 35,000 operational hours, XOCEAN is addressing the critical need for efficient and low-impact ocean data.

With less than 5% of global oceans mapped, XOCEAN enables faster, cleaner, and safer data collection across the marine sector.

Backing from Global Impact Investors

Alan Foy, Chairman of Venturewave Capital, will join the XOCEAN Board:

“XOCEAN is a world-class example of clean maritime technology. We are proud to support their continued growth and global scale.”

James Ives, XOCEAN CEO, added:

“Our mission is to deliver the data that powers sustainable ocean development, with ultra-low environmental impact. We are thrilled to welcome Venturewave Capital as our strategic partner.”

Kieran McLoughlin, Managing Partner of Venturewave Capital, commented:

“This XOCEAN Venturewave Capital investment directly supports the UN Sustainable Development Goals—particularly Climate Action and Life Below Water. It reinforces our aim to fund technologies that deliver measurable impact.”

Strategic Alignment with Venturewave Capital

This XOCEAN Venturewave Capital investment is about more than capital. It’s about alignment. Venturewave backs companies that scale both purpose and performance. Together, XOCEAN and Venturewave exemplify the future of impact capital deployed at a global scale.

Strong Syndicate of Investors

The Series A round also includes follow-on investment from:

  • Chris Huskilson, former CEO of Emera Inc.
  • Enterprise Ireland
  • Private investors from Ireland and Canada

About XOCEAN

XOCEAN provides turnkey ocean data services via uncrewed robotic vessels. Its carbon-neutral solutions support seabed mapping, wind development, and environmental monitoring.

XOCEAN is supported by:

 

The XOCEAN Venturewave Capital investment signals that the intersection of deep tech and climate impact is here and scaling fast. With operational capacity across four continents and an in-house fleet, XOCEAN is a leader in the blue economy.