WSense raised €7.2 million in a pre-Series B funding round to enhance its underwater IoT technology and support international expansion, attracting notable investors including Fincantieri and Jerome Ternynck's Rypples.

Information on the Target

WSense, an Italian ocean tech company, specializes in enabling underwater Internet of Things (IoUT) solutions through its innovative "subsea wifi" systems. Founded by Chiara Petrioli, a distinguished professor of computer engineering at Sapienza University, WSense is led by Petrioli as CEO since 2022. The company has developed unique systems that ensure interoperability among multi-vendor underwater sensors and autonomous vehicles, achieving unprecedented reliability and scalability. WSense's patented technologies allow for real-time, secure, and cost-effective wireless communications in underwater environments. This capability facilitates large-scale underwater data collection, transforming our understanding of the oceans and their impact on global ecosystems through numerous applications, including critical infrastructure monitoring, autonomous robotic networks for energy transitions, and real-time environmental surveillance.

Industry Overview in the Target's Specific Country

The underwater technology sector is projected to reach €400 billion globally between 2024 and 2030, with innovative solutions valued at €30 billion. WSense aims to penetrate the global underwater communications market, which is anticipated to grow to €10.4 billion. The sector's growth is confirmed by the extensive deployment of 552 cables along oceanic routes, totaling 1.4 million kilometers, which facilitate 98% of global digital communications, including digital transactions. In 2023, these transactions exceeded a trillion, generating an estimated annual value of $10 trillion, with an average growth rate of 12% per year, according to the Italian Navy.