Data for decision-makers: Sinay raises €5M thanks to BlueInvest support
Success storiesSinay is a French start-up specialised in maritime data solutions. It transforms complex maritime data into easily understandable indicators that maritime stakeholders can use to address environmental challenges and optimise operations at sea.
With the support of the EU BlueInvest Readiness Assistance Programme, Sinay has successfully refined its strategy and business plan and attracted investors.
In May 2023, Sinay achieved a remarkable milestone by securing a €5 million in funding. This international fundraising round involved investors from Europe, Singapore, Hong Kong, and the USA, demonstrating the global recognition of Sinay's vision to reconcile business efficiency with ocean biodiversity.
Harnessing the power of Artifical Intelligence (AI)
Artificial Intelligence is revolutionising industries across the board and the blue economy is no exception. AI offers opportunities in addressing environmental sustainability issues, such as preserving biodiversity, managing water, and monitoring pollution, as well as to and optimise operations at sea.
It is thanks to those opportunities that Sinay came into being.
Founded in 2008, Sinay created the “Sinay Hub”, an AI-based software that collects, analyses, and monitors over 350 terabyte (TB) of worldwide maritime-related data. The data analysed include vessels positions, wind farms positions, biodiversity data of 150 million marine species, and more than 40 years’ worth of historical data on ocean waves, winds and currents.
Making maritime activities smarter and more sustainable
Utilising advanced machine learning algorithms, Sinay provides insights for the maritime industry to optimise operations at sea while also protecting the environment and biodiversity. Users can access real-time or historical data and reports through the Sinay Hub which combines several modules (air quality, water quality, underwater acoustics, etc.).
Sinay has recently launched its Application Programming Interface (API) catalogue, where users can find six different APIs. These include the Noise Emissions API that collects data such as ship position, speed, fuel type and historical performance to monitor noise emissions for any vessel type and journey worldwide. This enables customers to get an estimation of sound exposure level and to assess its impact on marine wildlife.
BlueInvest, connecting companies with investors
Sinay comprises a young and dynamic international team of 90 professionals driven by a strong interest in technological innovation and the environment. Their focus is to develop products and services that contribute to environmental conservation. Over the past five years, this company has experienced a growth rate of 50% in the oceanic activities market. .
In its path for growth, Sinay received valuable support from the BlueInvest Readiness Assistance programme to help refine its strategy and business plan. Working closely with the start-up's CEO and founder, Yanis Souami, a BlueInvest coach provided guidance on how to effectively communicate the company's vision and technical intricacies to both current and potential investors.
The €5 million fundraising of May 2023 attracted a range of prominent investors, including Seventure Partners (Lead investor), Shift4Good, Alpana Ventures, Normandie Littoral, Motion Ventures, Seabird Ventures, and Betatron Venture Group. The funds will accelerate the internationalisation of the company notably by exploring the US and South-East Asian market. It will also allow the fast growth of the products, emphasising sales and marketing efforts.
Sinay has also recently announced the signature of a €1,6 Million contract with the European Space Agency to create a Digital Maritime Platform. The Digital Port Platform project consists of a hub of maritime modules to enhance port competitiveness through improved efficiency and increased sustainability.
Background
BlueInvest Readiness Assistance is the EU’s exclusive coaching programme for high potential EU start-ups and SMEs with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build growth capacity and attract investment.
Interested? For any questions, you can reach out to lu_blueinvest@pwc.lu
Sinay’s BlueInvest Experience: BlueInvestReadiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day, BlueInvest Awards
More information on the project
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Social media
https://www.linkedin.com/company/sinay/