Portfolio company Hefring Marine closes €2.2m Seed round

Hefring Marine is an Icelandic deep-tech company that specializes in intelligent maritime solutions, with a mission to empower vessel operators and managers to enhance safety, efficiency and sustainability.

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The company’s main product, IMAS, is an AI-driven on-board system that collects and analyses vessel data for real-time on-board decision support, optimizing for speed, route and heading, as well as providing operators and managers with immediate and historical insights into the entire fleet. The IMAS system can significantly improve situational awareness to enhance safety, reduce fuel use and emissions, and provide insights into vessel conditions and maintenance needs.

Initially targeting a raise of €2.0 million, greater interest in the round by investors than initially expected prompted Hefring Marine to increase the funding amount. The funding will be used to grow the team with new hirings, expand the company’s sales infrastructure, and further advance developments of the IMAS solution.

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Hefring Marine has a diverse range of customers, engaging in everything from search and rescue, defence, law enforcement, crew transfer, fisheries and pilotage to tourism, charter, and leisure. The Icelandic company has recently announced partnerships with vessel builders, such as SAFE Boats International, Diverse Marine and Archipelago Yachts, as well as commercial partnerships with the Icelandic Association for Search and Rescue, TM Insurance and the Italian Coast Guard. The IMAS system has helped Hefring Marine’s customers reduce fuel use by up to 20%, reduce harmful wave impacts by up to 70% and reduce insurance premiums by 20%. With an ever-growing database amassing from over 1,000 vessel trips per month, Hefring Marine is continuously expanding its future product roadmap and opportunities with an advanced suite of intelligent, data-driven solutions.

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The company maintains a portfolio of registered international patents and trademarks, branding elements and intellectual property assets. Hefring Marine will have a presence at most major industry trade shows in Europe and the United States over the year to boost awareness and grow sales and will target a larger financing round in late 2025 to scale the business further.

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About MD-One

Founded in 2021, MD One is Europe's first National Security venture capital firm. With a flexible, founder-friendly approach, the team leverages deep sector expertise and a solid venture capital track record to invest in early-stage startups from Pre-Seed to Series A. They partner with exceptional founders developing dual-use technologies for commercial and governmental clients and aim to provide significant value through follow-on investments while remaining deeply committed to supporting visionary founders.