WSense Makes Waves with €7.2 Million Pre-Series B Round Closure

The Italian ocean tech company WSense has successfully closed a €7.2 million pre-Series B funding round, with participation from existing investors CDP Venture Capital SGR, SWEN's Blue Ocean, RunwayFBU, Axon Partners Group, as well as new investors Fincantieri and Rypples. Founded by Chiara Petrioli, WSense specializes in underwater wireless communication technology through its 'subsea wifi' systems, enabling the Internet of Underwater Things (IoUT). This funding round increases WSense's total funding to over €22 million. With the new capital, WSense plans to accelerate international expansion, enhance its team, and prepare for a Series B round. The company focuses on providing unique solutions for adaptive wireless network interoperability between underwater sensors and vehicles. Their technology supports various applications, including critical infrastructure monitoring, energy transition assistance, and environmental monitoring. WSense's strategic collaboration with Fincantieri highlights the growing importance of the underwater communications market projected to reach €10.4 billion by 2030. A significant aspect of their potential for this industry expansion is noted in the memorandum of understanding with Fincantieri, focusing on adaptive underwater communications related to the Defense sector, among other areas. The investment completion remains contingent upon the Italian government not exercising its Golden Power.