Sealence Closes a Financing Round of 7.5 Million through Various Instruments

Sealence, an Italian scaleup known for its DeepSpeed ​​nautical jets, announced that it closed a round last December 15th whose total collection amounted to €7.55 million.

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The details of Sealence collection

Sealence collection was carried out through equity, debit and grants instruments, the latter mainly relating to the support of Experimental Research and Industrial Development activities. Still in relation to grants, Sealence specifies that there are still amounts, even significant ones, which will be collected in the coming months as the underlying projects progress.

175 investors participated in the round, including institutional investors and primary credit institutions, as well as professional, industrial and private investors. The total investors in captable thus rose to 573.

The total collection since the start of the industrial plan activities (2019) stands overall at around €16.5 million, while the investments made in Industrial Research and Experimental Development activities stand at around €9 million.

Sealence had successfully closed two equity crowdfunding campaigns, both on Crowdfundme. The first in October 2019, with a collection of €450,000 followed in August 2020 by the placement of a minibond convertible of €500,000, which was offered to all members, including the 126 investors of the first campaign.

The second campaign was closed the following year, in December 2020, with a collection of €2.9 million based on a pre-money valuation of €33.5 million.

Who is Sealence

Founded at the beginning of 2017 by William Gobbo, Sealence designed and built DeepSpeed, the first high-speed, high-efficiency electric outboard hydro-jet naval engine.

The technological innovations introduced by the engine allow for drastic improvements in efficiency, as well as reducing pollution and overall dimensions. The advantages of the technology are revolutionary both compared to traditional propeller propulsion and inboard waterjet propulsion.

The project was validated by Professor Ernesto Benini of the University of Padua, fluid dynamics consultant for the world’s major manufacturers of aeronautical jets, who joined the company, contributing to the drafting of the patent application.

Currently, Sealence employs 45 resources with multidisciplinary skills and with a preponderance of profiles with a high level of education. The growth plan envisages the employment of over 450 people when fully operational, also including those employed on the production and assembly lines.

Next developments

The Sealence 2024-2032 industrial plan envisages investments in capex for a further €54 million in the coming years, mainly in the setting up of production and assembly lines and secondarily on the development of further products relating to the CORE business.

The company has also renewed partnerships with the various universities historically supporting the project, among which stands out the University of Padua coordinated by Professor Ernesto Benini and a new name, the University of Cagliari, which will play a leading role in the of testing the technologies developed in Sealence in water.

At the moment the company has 4 different boats in the water, between 6 and 15 meters, on which the propulsion and powertrains are tested, to which another 2 hulls will be added in the coming months, an 11 and a 17 meter boat .

The boat with DeepSpeed ​​electric propulsion that has the maximum speed reached around 60 knots, while the one with the maximum autonomy reaches around 180 nautical miles – or over 330 km.

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(Featured image by sharkolot via Pixabay)

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