ZeroNorth Receives $20M Financing From CIBC Innovation Banking

ZeroNorth, a Copenhagen, Denmark-based technology company focused on the maritime industry, raised $20M in funding.

The round was led by CIBC Innovation Banking.

The company intends to use the funds to accelelrate its growth strategy through mergers and acquisitions (M&A), with the goal of enhancing access to data, acquiring innovative technologies, and expanding market share.

Led by CEO Søren Meyer, ZeroNorth offers six core services, which harness data and AI to create insights that enable voyage, vessel, and bunker optimisation and commercial decision-making. The platform analyses billions of data points to enable information flow from ship to shore and throughout the entire value chain, turning insights into actions, empowering vessel owners, commercial operators, charterers, cargo owners and bunker suppliers. The services are used by more than 230 customers across the industry, including owners, operators, charterers, as well as bunker traders, brokers and suppliers.

Founded in 2020, the company has grown from being a team of six to 600 employees across 10 global locations.