Sofar Ocean

Sofar Ocean

Real-time ocean data and analytics provider

About Sofar Ocean

Simplify's Rating
Why Sofar Ocean is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Rating Differentiation

Industries

Data & Analytics

Hardware

Social Impact

Company Size

51-200

Company Stage

Late Stage VC

Total Funding

$83.4M

Headquarters

San Francisco, California

Founded

2016

Overview

Sofar Ocean provides real-time ocean intelligence through a global network of weather sensors. The company operates an autonomous buoy network that collects data on ocean conditions like water levels, storm surges, and weather patterns. This data is processed and made available on their ocean intelligence platform, allowing clients such as marine researchers, shipping companies, and coastal planners to measure, predict, and respond to changes in the ocean. Sofar Ocean differentiates itself by offering both hardware products, like the Spotter and Wayfinder systems, and subscription-based access to their data analytics platform, creating a dual revenue stream. The company's goal is to enhance sustainable ocean management and climate resilience by expanding their buoy network and improving data analytics capabilities.

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Simplify's Take

What believers are saying

  • Recent $39 million funding will expand their buoy network and data analytics capabilities.
  • Growing demand for ocean data boosts Sofar Ocean's market potential and client base.
  • Partnerships in the Bristlemouth Pioneer program enhance technological innovation and market reach.

What critics are saying

  • Emerging competition from open standards like Bristlemouth may challenge proprietary systems.
  • Shipping industry's slow decarbonization limits immediate growth for optimization platforms.
  • Reliance on continuous funding rounds indicates potential financial vulnerability.

What makes Sofar Ocean unique

  • Sofar Ocean offers real-time ocean intelligence through a global network of weather sensors.
  • Their autonomous buoy network provides critical data on ocean conditions and weather patterns.
  • The Wayfinder platform optimizes maritime routes, reducing fuel consumption and emissions.

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Funding

Total Funding

$83.4M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Hybrid Work Options

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

-2%

2 year growth

9%
CleanTechnica
Aug 2nd, 2024
How Shipping Is Tapping Into The World’S Largest Network Of Ocean Weather Sensors To Help Solve Its Emissions Problem

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google NewsMaritime shipping is a key player in the global energy transition but has been slow to adapt. As pressure ramps up, carriers are prioritizing solutions that drive emissions reductions today while setting them up for future success.Taking Immediate Action to Reduce Maritime EmissionsThe shipping industry’s monumental impact on global emissions means the planet has much to gain through its efficiencies. The UN International Maritime Organization’s (IMO) 2023 GHG Strategy currently calls for a reduction in the carbon intensity of international shipping by at least 40% on average by 2030; however, in 2022, emissions from international shipping grew by 5%, returning to 2017-2018 levels.While adoption of longer-term decarbonization solutions like alternative fuels and propulsion is the end goal, the time pressure applied by the IMO’s targets combined with the ongoing climate crisis necessitates immediate action. Voyage optimization offers a powerful solution to improve efficiency, minimize fuel consumption, and reduce vessel emissions today.Captains and shoreside operators use voyage optimization platforms to access route and speed guidance and stay on the most efficient path to port. The best platforms pay for themselves in time and fuel savings — but not all solutions are created equal.Closing the Ocean Data Gap for Voyage OptimizationOne of the biggest barriers to effective voyage optimization is a lack of real-time ocean data

PR Newswire
Jun 7th, 2023
Bristlemouth Opens A New Era Of Ocean Innovation, Launches Pioneer Program

Bristlemouth is the first open ocean connectivity standard, removing a key barrier to scaling innovation and growth across research, government, and industryNEW YORK, June 7, 2023 /PRNewswire/ -- Bristlemouth , the first open ocean connectivity standard, has launched its Pioneer program during World Oceans Week. The Bristlemouth Pioneer program supports ocean innovators building marine applications and new technology. The program is a collaboration between strategic partners from across the public and private sectors: OceanKind , Office of Naval Research , Schmidt Marine Technology Partners , Builders Vision , Dalio Philanthropies , Aqualink , Ocean Discovery League , and Sofar Ocean .Bristlemouth is an open standard delivering plug-and-play hardware interfaces for marine applications. It ushers in a new era of ocean innovation by accelerating the development of scalable ocean sensing systems and applications. By closing the ocean data gap at a rapid pace, Bristlemouth significantly impacts climate understanding, coastal resilience, and every major ocean industry. Bristlemouth features a simple and robust connector combined with intelligent nodes to enable true peer-to-peer networking capabilities."Although the ocean is essential to our lives and our livelihoods, and to understanding climate change and marine restoration, we have far too little data to help us practice good stewardship," stated Mark Schrope, Director of Schmidt Marine Technology Partners

Ship and Offshore
Apr 14th, 2023
Dry bulk heavyweights adopt Wayfinder optimisation platform

T wo US-listed dry bulk owners, Eagle Bulk and Star Bulk, based in Greece, have chosen Sofar Ocean’s Wayfinder voyage optimisation platform to cut ship emissions and maximise efficiency.

Intelligence360
Aug 26th, 2022
San Francisco California Based Sofar Ocean Technologies Is Raising $39,349,999.00 In New Equity Investment.

San Francisco, CA – According to filings with the U.S. Securities and Exchange Commission, SoFar Ocean Technologies is raising $39,349,999.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Tim Janssen played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development. About SoFar Ocean Technologies

Ecotopian Careers
Dec 3rd, 2021
Sofarocean hired Anusha Sethuraman on Nov 3rd 21'.

Here’s the description: Anusha Sethuraman recently joined Sofar Ocean, a startup that builds accessible ocean sensing and exploration tools to provide insights to science, society and industry for a more sustainable planet.

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