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Capital Infrastructure

Maritime data startup Quartermaster raises $140 million in Series B

Maritime data startup Quartermaster raises $140 million in Series B Image: Primary
Quartermaster has raised $140 million in a Series B round, TechCrunch reported. About $100 million came from investors including Insight Partners and Overmatch Ventures; the remaining $40 million is a debt facility from Stifel. The financing follows a $43 million Series A closed in May. The startup mounts cameras and radios on ships to collect and relay real-time maritime data for customers including governments, shipping companies and insurers. Chief executive Neil Sobin said more than 650 vessels in 25 countries have its SmartMast equipment, while more than 800 units have shipped. The difference reflects equipment shipped ahead of installation.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch, Techmeme and reviewed by the T&B editorial agent team.
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