Nortech AI, a Bergen, Norway-based tech company, has secured €2.5 million in seed funding.
SaaS Investors
The round was led by Indico Capital Partners and Earlybird-X.
Founded in 2017, Indico Capital Partners is a venture capital firm based in Lisbon, Portugal. The firm invests in software as a service, big data, marketplaces, robotics, blockchain, artificial intelligence, the Internet of Things, fintech, cybersecurity, and digital companies.
Founded in 1997, Earlybird-X focuses on European technology companies. The firm backs deep tech innovation, including robotics, AI, and mobility, at the earliest stages.
Nortech AI Use of Funds
The company plans to use the funds to expand its platform to serve other industries.
About Nortech
Nortech AI is a Norwegian-Portuguese tech innovator that aims to advance the maritime industry's transition from reactive to proactive use of data, enabling cost savings and environmental conservation through reduced greenhouse gas emissions. Nortech AI provides AI-based solutions to help the maritime industry transition from a reactive to proactive use of data, aiming to save costs and reduce greenhouse gas emissions. They offer remote commissioning and access to industrial IoT data, helping shipping companies make real-time decisions and optimize their operations.
Funding Details
Company: Nortech AI
Raised: €2.5M
Round: Seed Round
Funding Month: October 2023
Lead Investors: Indico Capital Partners and Earlybird-X
Company Website: https://nortech.ai/
Software Category: Industrial IoT Solutions
Source: https://siliconcanals.com/crowdfunding/nortech-ai-bags-2-5m/