Venture Capital: Bedrock, Which Gathers Seafloor Data For Wind Energy Systems, Raises $25.5M

Bedrock offers comprehensive geophysical survey datasets of the ocean floor.

Bedrock, a seafloor data acquisition and distribution platform, has raised $25.5 million in a Series A funding round. The company aims to revolutionize seafloor exploration and accelerate offshore wind energy development. The funds will be used to bring its unique data offering to the offshore wind market and expand their unmanned autonomous underwater vehicle (AUV) acquisition system.

The investment round was co-led by Northzone and Primary Venture Partners, with participation from Valor Equity Partners, and existing investors Eniac, Quiet Capital, and R7. (Bedrock)

Bedrock’s technology has the potential to reduce risks and speed up the development of offshore wind energy projects. Traditional oceanographic surveys are not only very costly, amounting to tens of millions of dollars, but they also consume a considerable amount of time, often taking up to 12 months to produce final data. Bedrock’s efficiency addresses these issues by minimizing the reliance on large survey vessels, which have a detrimental environmental footprint, and eliminating the lengthy wait for vital data necessary for the advancement of offshore wind energy projects.

The company’s goal, therefore, is to transform how geophysical seafloor data is acquired and distributed, reducing costs and environmental impact. It offers comprehensive geophysical survey datasets of the ocean floor, enabling detailed ground models and asset inspection.

The company, which was founded in 2020 by Anthony DiMare and Charles Chiau, plans to scale and democratize access to ocean data, particularly in the offshore wind market. Bedrock will also use the funding to expand its AUV fleet, conduct more ocean deployments, and become the primary source of seafloor data for offshore wind energy projects.

Related Story:  AI Deployed To Carry Out Sound Surveys Of The Ocean

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…