Folklore has invested in Hullbot's A$16M Series A to support its innovative autonomous hull cleaning technology, aimed at enhancing efficiency and reducing emissions in the shipping industry.

Information on the Target

Hullbot, based in Sydney, is an innovative company specializing in the design, construction, and deployment of autonomous underwater robots that efficiently clean and inspect ship hulls. This cutting-edge technology is essential for some of the world's largest shipping providers, significantly optimizing operations for the 80% of global trade that is transported by sea. By actively managing hull maintenance, Hullbot plays a crucial role in minimizing drag, reducing carbon emissions, and ensuring adherence to regulatory standards. The company has successfully delivered verifiable fuel savings of 10% to 26% for its customers.

Founded by Tom Loefler, who possesses a background in mechanical engineering and shipbuilding, Hullbot's leadership is well-equipped to understand the challenges faced by customers in the maritime sector. The team is composed of top-tier experts in marine operations, robotics, and software development, positioning Hullbot as a leader in addressing the challenges associated with hull maintenance.

Industry Overview in Australia

The shipping industry in Australia has a critical footprint, contributing significantly to both the national economy and global trade dynamics. The sector is responsible for transporting a substantial volume of goods,