WSense, an aquatech firm based in Rome, Italy, that is developing an underwater wireless communications system, has pulled in a EUR 9 million (USD 9.8 million) investment.
The commercial spinoff of research completed at Rome’s Sapienza University is working to commercialize a communications system that can deliver real-time information delivery and communication exchange for underwater environments. Its Series A fundraising round attracted investments from SWEN Blue Ocean, Axon Partners Group, RunwayFBU, CoreAngels Climate, and Katapult Ocean, it announced on 10 November.
“This latest round, and the new international investors’ confidence, will enable us to strengthen our technological leadership in an increasingly competitive market where even major players are starting to enter,” WSense Co-Founder and CEO Chiara Petrioli said. “Our proficiency in developing previously unachievable marine technologies positions WSense to make a positive impact on our planet. In fact, we are building partnerships that will strengthen us in emerging areas such as marine renewable energy, autonomous underwater robotics, and infrastructure security and surveillance.´”
WSense holds patents for both software and hardware that allow for underwater, cloud-based communication without the use of cables. The company claims its system works reliably and cost-effectively at depths of up to 3,000 meters below the ocean’s surface. The funding will enable the company to expand its global reach and enhance its product suite, which it is also marketing to offshore and floating wind farms and developers of wave energy capture technology, as well as to ocean researchers.
The company said the global underwater communications sector will be valued at EUR 7.3 billion (USD 8 billion) by 2030, up from EUR 3.3 billion (USD 3.6 billion) in 2022.
“Underwater telecommunications will be crucial to unlocking the full potential of new offshore generation technologies,” Axon Climate-Tech Investment Strategy Partner Luis Castañeda said in a release. “We are thrilled to collaborate with Chiara and her team. Our investment in Wsense clearly demonstrates our interest in deep tech companies that facilitate the energy transition and our dedication to the Italian market, where we are already assembling a collection of technology and innovation-based companies.”
Photo courtesy of WSense
