Pyxis Bags $3.4 Million to Help Make Maritime Industry Greener

Pyxis Bags $3.4 Million to Help Make Maritime Industry Greener

Pyxis, a pioneering maritime electrification startup based in Singapore, has recently secured $3.4 million in its seed funding round. This funding was co-led by Motion Ventures, a fund focused on maritime innovation, and Shift4Good, an impact fund dedicated to sustainability.

The funding round saw participation from various stakeholders, including Seeds Capital, MarImpact, ShipsFocus, Tian San Shipping, Kim Ann Investments, and LCC Resources. This overwhelming support highlights the industry’s eagerness to embrace sustainable solutions.

Established in 2022 by Tommy Phun, Pyxis aims to drive the adoption of electric coastal vessels, paving the way for a greener maritime future. Drawing from a decade of experience in the maritime sector, Phun envisions Pyxis as a catalyst for comprehensive fleet decarbonization without imposing prohibitive upfront costs on vessel owners.

Accelerating Technological Advancements

Pyxis will use the freshly injected capital to accelerate its efforts in developing cutting-edge electrification technologies. Additionally, it will facilitate the expansion of production capacities for their range of electric harbor crafts. This positions them as leaders in the burgeoning market for sustainable maritime solutions.

Pyxis has aligned itself with key players in the industry to drive its mission forward. Collaborations with Mitsui O.S.K Lines and SP Mobility showcase Pyxis’s commitment to innovation and sustainability. These partnerships aim to develop and promote electric vessels in Singapore and Japan.

The global push towards sustainability has brought maritime electrification to the forefront of industry discourse. Pyxis’s successful funding round and strategic partnerships mark a significant step towards realizing a greener, more sustainable maritime ecosystem. The trend of continued innovation and collaboration positions Pyxis to lead the charge toward a cleaner future.

About The Author

Farukh Kitchlew

Farukh is a student of BBA at NUST, and writes about technology startups and is interested in makeup and fashion.

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