Nortech AI, a Norwegian-Portuguese Internet of Things startup, secured €2.5 million in funding from Indico Capital Partners and Earlybird-X to expand its plug-and-play solution into the maritime industry.
Nortech AI hopes to use this round to link various industrial requirements, such as data analytics and process technology, not just in the maritime industry but additionally in other business environments in the future.
Francisco Roque, Nortech AI’s CEO said: “Our mission is steeped in simplicity and efficiency. We envision a world where businesses leverage the power of industrial IoT without the accompanying complexities. It’s about creating a future where digitalisation is not a hurdle, but a pathway to sustainable and smart operations.”
From gathering sensor data to implementing anomaly detection and predictive maintenance models on top of data, Nortech gives business complete control. They support the digitalization process at every stage.
Stephan Morais, Managing General Partner of Indico Capital Partners, stated: “The maritime industry is ripe for the implementation of software that helps it become more sustainable. Nortech´s software is fast to integrate with existing systems onboard and therefore allows ships´ operations to become more sustainable immediately. We are proud to be supporting this transition of the global maritime industry with our Blue Fund.”
About Nortech AI
Nortech AI was established by Francisco Roque in 2021 and has headquarters in Lisbon and Bergen. It makes use of scalable data structures that can be modified and reused for different use cases and were developed with real-world operational and simulation data in mind.