Hull cleaning robotics startup Hullbot has raised $16 million in a Series A.
The round was led by US-based Regeneration VC with support from Climate Tech Partners, making the first investment from its new fund backing technologies for emissions reduction in hard-to-abate industries. Also investing were Katapult Ocean, Folklore, Trinity Ventures, Rypples, NewSouth Innovations, and Bandera Capital.
The Sydney maritime startup, recently won the Australian Good Design Award of the Year for its autonomous hull-cleaning robot, which reduces ship fuel consumption by up 10–26% by reducing biofouling – plants, algae, barnacles and molluscs, which grow on the hull – and create drag.
Hullbot has delivered more than 1,000 paid hull cleans for ferry operators and small cruise vessels globally, preventing more than 3,600 tonnes of CO₂ emissions.
The veteran startup was founded in 2014 by Tom Loefler (CEO) and Karl Watfern (CTO). It’s been through Startmate, was part of UNSW Founders 10x defence accelerator and more recently joined KPMG High Growth Ventures.
The funds will be used on Australian-built robotics production, developing larger robotic platforms, and expand its service hubs internationally.
BigBot, a larger version of the current technology that allows the robot to travel with the vessel, is also on the cards.
The Hullbot H6 robotic hull cleaner in action. Image: Hullbot
Tom Loefler said Hullbot has proven fuel savings of cutting operating costs and emissions across existing fleets.
“Hullbot’s mission is to help shipping companies cut emissions, costs, and ocean impacts all at once,” said Tom Loefler, CEO of Hullbot.
“By scaling our service globally, we can deliver fuel savings and decarbonisation today while preparing the industry for stricter regulations tomorrow.”
Climate Tech Partners cofounder Tom Kline said Hullbot has positioned itself to be a global leader in reducing shipping emissions.
“We see extraordinary potential for Hullbot to become the global standard in autonomous hull maintenance and maritime emissions reduction.
“Our model is built on working with corporates to deploy technologies at scale. Hullbot fits that perfectly — delivering significant emissions reductions while reducing operating costs. We’re forecasting that their system will become the reference for ferries and shipping operators globally.”
One of Hullbot’s customers is NRMA Marine, which runs the Manly Fast Ferry and Fantasea Cruising in Sydney Harbour, the Palm Beach Hopper on Pittwater, Gordon River Cruises in World Heritage-listed Tasmanian wilderness, and Coral Expeditions in Queensland.
CEO Nell Payne said “Hullbot has delivered exceptional results for our fleet. We’ve seen a strong ROI through significant fuel savings and reduced CO2 emissions.”
