Ceto Secures £3.6m for Global Expansion in Maritime Tech

Newcastle-based Ceto, a predictive analysis platform for the maritime industry, has successfully raised £3.6 million in a funding round to develop its predictive technology aimed at revolutionizing maritime operations. This investment was led by Dynamo Ventures and saw participation from Howden Ventures, Signal Ventures, Motion Ventures, and Chaucer. Ceto's technology aims to integrate artificial intelligence with maritime human expertise to enhance decision-making, identify risks, and improve maritime insurance practices. The company's flagship products include the Watchkeeper platform for real-time ship tracking, CarbonID for emissions tracking, and Connected Insurance for adaptive insurance solutions. With these tools, Ceto aims to facilitate smarter, greener, and more cost-efficient shipping operations. The company is also preparing for a global scale-up and has recently appointed marine insurance veteran Bob Clarkson as their chief underwriting officer. Santosh Sankar of Dynamo Ventures praised Ceto’s mission to modernize insurance practices within the maritime industry, underscoring the significance for a sector responsible for 80% of global trade by volume.