Kaiko Systems raises €2M seed round to digitize frontline work in ocean shipping
Berlin, 21 September 2022 – Kaiko Systems, a Berlin-based software startup digitizing maritime shipping, has successfully completed a seed financing round of €2 million.
The company helps global shipping companies to digitize onboard operations of frontline workers, reduce downtime, and increase technical management productivity. The capital infusion will be used to grow its team, further advance its software solution, and expand into new geographies.
Since launching their product in 2021, Kaiko Systems has swiftly won multiple reputable customers such as Columbia Shipmanagement, Marlow Navigation, USC Barnkrug, CTM and The Asian Spirit Steamship Company, contributing to the uptime of hundreds of vessels that keep the global supply chain afloat 24/7.
The funding round comes from multiple investors, including Schoeller Holdings, Vineta Ventures, A Round Capital, Flagship Founders as well as industry experts such as Clasen Rickmers and Justus Kniffka.
Schoeller Holdings is the company behind one of the most respected ship management companies in the world, Columbia Shipmanagement. “We benefit tremendously from the deep expertise of Schoeller Holdings that will further support our mission of contributing to a safer, smarter, more collaborative maritime industry,” says Fabian Fussek, Co-Founder and CEO of Kaiko Systems.
Despite the fact that 90% of traded goods are transported via the oceans, most technical operations are still based on paper and Excel. This leads to inefficient operations, heavy workloads, and high rates of human error that contribute to ca. 75% of incidents at sea. Kaiko Systems has developed a mobile-first app that streamlines technical operations such as maintenance and inspections for ship crews. This improves quality, enables data to be collected on the job, and reduces time spent on manual tasks.
In addition, its online dashboard serves as the shore team’s virtual assistant. It automatically verifies the plausibility of data, and generates fleet-wide vessel health analytics. The dynamic dashboard allows shore teams to instantly identify risks and prioritize tasks. In this way, reaction time to findings is cut, downtime is reduced, and maintenance plans and costs are optimized.
“Maritime shipping is the backbone of the global supply chains, but for various reasons only at the beginning of digitization. We have a unique opportunity here to play a significant role in shaping the future of this industry,” says Fabian Fussek. “I am particularly pleased that renowned experts share our vision and have invested into the value our innovative solution represents.”
Eddy del Valle, Co-Founder & Chief Technology Officer (CTO) adds: “This investment is a testament to the great work that the team of Kaiko Systems is consistently delivering. I am very proud of our people and look forward to bringing further talent on board.”
Mark O’Neil, President of Columbia Shipmanagement, is also convinced by Kaiko Systems’ solution: “The Kaiko Systems team has outstanding knowledge in building digital products. Equipped with deep industry expertise, the company has already proven itself in the market. The shipping industry needs companies such as these, to drive the digital transformation. The need for advanced digital solutions especially in the area of data acquisition and analysis on technical management is huge. Kaiko Systems is only at the beginning and has great potential and we are delighted to be part of this development.”
About Kaiko Systems
Berlin-based Kaiko Systems GmbH was founded in 2020 to make shipping safer, smarter, and more collaborative. The tech company has developed a smart and user-friendly data collection and analysis tool that provides shipping companies and their stakeholders with comprehensive insights into the manual part of technical operations, such as inspection and maintenance. With a user-friendly mobile app, crews are able to continuously collect reliable technical data on the job. The automated, AI-based analysis then provides the shore teams with data-based insights on potential risks and efficiency gains. Disruptions and downtimes of ships can thus be reduced. Further information at www.kaikosystems.com