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north.io Closes 8.5 Mio. Seed Investment Round led by VAERING: Lifting Ocean Data into the Cloud

Krueger & Neumann Sep 23, 2024

Press Release

north.io Closes 8.5 Mio. Seed Investment Round led by VAERING: Lifting Ocean Data into the Cloud

Kiel / Hamburg – VAERING, the Hamburg-based family office, has officially joined north.io as the lead investor in their EUR 8.5 mill. seed investment round, solidifying their commitment to supporting groundbreaking maritime technology and innovation. Based in Kiel, north.io is a leader in ocean digitalisation, big data management and AI, playing a vital role in the maritime economy, offshore wind and the security domain.

"We are very happy to welcome VAERING as a partner," said Jann Wendt (37), CEO and Founder of north.io. "VAERING 's investment marks a significant milestone for us. Their focus on sustainability and entrepreneurial collaboration aligns perfectly with our mission to transform maritime industries through cutting-edge software technology. Together, we aim to expand our global impact and accelerate our growth, particularly in areas like offshore wind, ocean digitalisation and critical infrastructure protection", he adds.

Jann Wendt , CEO of north.io signs documents in the presence of David Schirm, CEO of the Gabler Group.

VAERING, founded in 2021, is known for its investments in companies that drive sustainable industrial processes. The family-run firm sees great potential in north.io’s vision of digitalising the oceans, a sector increasingly important for both environmental protection and economic growth.

"We believe in the transformative power of north.io’s technology," said Moritz Koch, Managing Director and family spokesperson of VAERING. "Their work in ocean digitalisation and data management has the potential to redefine how maritime industries operate, offering significant contributions to sustainability and security. We look forward to supporting them as they expand and strengthen their market position."

Moritz Koch, MD of VAERING and Frithjof Hennemann, CEO of north.io, during the signing process.

Accelerating Innovation in Ocean Digitalisation

north.io has made headlines for its innovative ways of combining cloud computing, big ocean data processing and artificial intelligence. Its first-of-its-kind SaaS platform technology TrueOcean has placed it at the forefront of technological innovation in the maritime data sector, with notable industrial collaborations including NVIDIA and renowned research organizations such as the GEOMAR Helmholtz Centre for Ocean Research Kiel.

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north.io combines cloud computing, big ocean data processing and artificial intelligence.

north.io also uses this unique combination of expertise to contribute to cutting-edge research initiatives such as Marispace-X for decentralised ocean data spaces and Argus, which focuses on securing critical underwater infrastructure. Argus, for example, is setting new standards in underwater data fusion using machine learning to monitor and protect maritime assets. It has also been featured in a story by the German national TV broadcaster NDR in the previous month.

Such technological approaches have become increasingly relevant for managing large scale ocean data not just in economic environments like offshore wind but also in the wake of incidents such as the North Stream pipeline attacks, highlighting the growing importance of maritime data.

Argus Project: Click on the image to be redirected to the TV feature on the page of the national broadcaster NDR.

Boosting Kiel’s Status as a Maritime Tech Hub

The investment from VAERING underscores the growing recognition of Kiel as a hub for maritime technology and innovation. With a deep connection to Schleswig-Holstein’s maritime heritage, north.io is positioned to contribute to the region’s reputation as a leader in ocean-based industries.

"The success of north.io shows the incredible potential of the maritime technology sector in Kiel and Schleswig-Holstein. The region has the resources, talent and infrastructure to become a 'Blue Silicon Valley'," Wendt added. "Our collaboration with VAERING will directly benefit our customers by allowing us to introduce the next layers of technological value into our platforms, drive further innovation in the field and continue to attract top talent."

north.io’s existing investor Possehl also welcomes the new partner and highlights the strategic importance of the region. David Schirm, CEO of the Gabler Group, states: "Northern Germany is an ideal location for north.io's continued growth, offering a perfect blend of maritime expertise, research capabilities, and an innovation-friendly environment. This partnership is an exciting opportunity to support north.io’s mission and contribute to the economic development of the region."

About north.io

Founded in Kiel, north.io is a leader in maritime digitalisation, offering innovative solutions for the collection and processing of large-scale ocean data. The company is involved in numerous national and international research projects, with a focus on using AI to address critical environmental and infrastructure challenges. north.io’s mission is to digitalise the oceans, contributing to both the protection of underwater ecosystems and the security of critical maritime infrastructure.

About VAERING

VAERING SE & Co. KG is a family-owned investment company founded in 2021 in Hamburg. The company focuses on sustainable investments, primarily in small and medium-sized businesses that contribute to the decarbonisation of industrial processes, buildings and infrastructure. VAERING combines the capital, culture, and entrepreneurial expertise of a German family with over 100 years of family business ownership and M&A experience.

About Possehl

The Possehl Group, which operates worldwide under the leadership of the management holding company L. Possehl & Co. mbH, is a diversified group with currently ten economically independent, decentral organized business divisions. The Possehl Group comprises L. Possehl & Co. mbH and more than 200 subsidiaries in over 30 countries. In fiscal year 2023, the Group generated preliminary sales of EUR 5.8 billion. Currently, Possehl has around 13,300 employees worldwide. The company was founded in 1847 by Ludwig Possehl as a retailer for hardware in Lübeck. Since 1919, the non-profit Possehl Foundation has been the sole shareholder. This corporate structure enables the independence of the Possehl Group and forms the foundation for long-term entrepreneurial decisions.