Greywing raises $2.5M to advance new carbon scoring solution

Singapore-based startup Greywing announced raising a $2.5 million seed round to accelerate its operating system for the maritime industry with a new carbon scoring solution.

The new solution will be offered as part of the startup’s recently launched Crew Change tool which gives vessel operators visibility on the factors impacting how they manage seafarers.

The funding round was participated by Flexport, Transmedia Capital, Signal Ventures, Motion Ventures, Rebel Ventures, Y-Combinator, Entrepreneur First, and more.

Greywing is building solutions for ship operators to automate their business, through actionable intelligence, better data, and communication.

Nick Clarke, Chief Executive Officer at Greywing, said the factors impacting a maritime voyage have grown in complexity with climate change and COVID-19 being thrown into the mix, and Greywing’s traction is accelerating to match the pace of these evolving challenges.

He added that this strategic raise will be critical to supercharge that growth by anchoring their capabilities around what the industry needs most right now.

At present, the only way for shipping companies to assess their carbon impact is after a vessel has completed a crew change.

Greywing is the first platform that enables vessel operators to proactively make decisions based on real-time data to minimise the carbon impact of their crewing operations before they take action.

The firm’s real-time carbon scoring solution is the only holistic way to see how decisions around shore-based operations, flight bookings for the crew, deviation of voyage routes and more will impact a shipping company’s carbon emissions.

Greywing’s Crew Change tool gives shipping companies timely visibility on how COVID-19 requirements at each port will impact their crew resourcing because of restrictions specific to nationalities or travel activity.

Hrishi Olickel, Chief Technology Officer at Greywing, said the startup’s aim is to improve efficiency across carbon, threat, and cost verticals by improving decisions as they’re made, instead of after the fact.