US builder takes stake in robotics developer
Brunswick Corporation has taken a stake in Sea Machines Robotics, the developer of autonomous technology and advanced perception systems for the marine industry.
While Sea Machines’ primary focus is on the commercial vessels market, Brunswick anticipates that research and developments will aid in similar capabilities that will eventually be adapted and extended into the recreational marine market.
The undisclosed investment was made through Brunswick’s joint venture with Tech-Nexus Venture Collaborative, which was formed in 2017 “to identify and advance transformative innovation to unlock new growth opportunities in marine technology,” according to a company news release.
Other companies investing in this round of Sea Machines’ US$10m funding - one of the largest rounds of financing for a marine and maritime-focused technology company in history - include Toyota AI, Eniac Ventures, Accomplice VC.
“Brunswick believes there are rich opportunities both in emerging technology and extensions of current product technologies that the joint venture can pursue,’ explained Chief Technology Officer David Foulkes. “To date, our participation and investments are helping us to better understand how we can make boating better and continue to evolve and differentiate our business to better compete in the long-term.”