Ocean data collection firm Sofar raises $39 million
Sofar Ocean Technologies, which makes instruments for ocean data collection, has raised $39 million in a Series B syndicate round with Union Square Ventures and the Foundry Group.
Why it matters: Sofar's data could improve the accuracy of weather forecasts and climate monitoring in the world's oceans, which have vast blind spots compared to Earth's land areas.
Details: Sofar's customer base includes climate scientists, shipping carriers including Berge Bulk, which has 80 vessels, along with foreign governments, among others.
- The money will be used to expand into new markets while also scaling up the company's engineering, technology, research and marketing departments, CEO Tim Janssen told Axios via email.
- Sofar aims to deploy thousands of its low-cost "Spotter" buoys across all five oceans to collect data from as many places as it can. They can cost as little as $5,000, depending on the configuration.
Editor's note: This story has been corrected to note that Sofar Ocean raised $39 million, not $31 million.