After FocalPoint raised £23M to improve GPS accuracy, Berlin-based software startup Kaiko Systems has secured €2 million in seed funding. The investment round was led by several investors, including Schoeller Holdings, Vineta Ventures, A Round Capital, Flagship Founders, and industry experts such as Clasen Rickmers and Justus Kniffka.
Growth Plans On Cards
By increasing their team size, further developing their software and entering new locations, Kaiko Systems will use the capital for purposes stated.
Fabian Fussek co-founded Kaiko Systems; he thanked Schoeller Holdings for their support. This support helped Fabian establish Columbia Shipmanagement, which is considered to be one of the best ship management companies in the world.
Fabian Fussek said that maritime shipping is the backbone of the global supply chains. However, he said that its digital transformation began only recently. Fussek believed that this would provide an opportunity for investors to play a major role in shaping the industry’s future. He was pleased to announce that many experts considered their vision worthwhile, and had invested in the value of their innovative solution.
CTO Eddy del Valle stated that he was pleased with the work being done by Kaiko Systems’ employees. He went on to say that this investment is a sign of great work being consistently delivered by the team. Del Valle said he was looking forward to hiring more employees.
Mark O’Neil, the president of Columbia Shipmanagement, was impressed with the Kaiko Systems team and their digital product building solutions. O’Neil said the company had already proven itself in the market due to deep expertise in the shipping industry. He believed that more companies like Kaiko Systems were needed to drive digital transformation in the shipping industry. Data collection and analysis requires significant digital advancements. Kaiko Systems is at the beginning of a large development potential; this is why the need for advanced solutions in technical management is so high. Fortunately, we are part of this tremendous potential with Kaiko Systems.
Digitises Maritime Operations
Nearly 75% of maritime incidents are a result of human error in operations that are based on paper and Excel. This is because most technical operations still rely on these low-tech methods. This leads to significant workloads and poor efficiency when transporting goods across the ocean. However, about 90% of all traded items traverse the oceans for transport.
In 2020, Eddy del Valle and Fabian Fussek founded Kaiko Systems in Berlin to improve the safety, intelligence and collaboration of shipping. The company has developed a data analysis and collection tool that is both user-friendly and smart. This tool uses automated and AI-based analysis to provide insightful data about potential risks and possible efficiency gains for maintenance and inspection on the docks.
The app’s mobile-first design streamlines procedures like inspections and maintenance. This helps create higher quality products, allows data to be gathered on the job and eliminates time wasted on manual tasks.