Maritime predictive analytics platform Ceto has raised $4.8 million. The company will use the funds for ongoing global expansion of both its product and team.
Founded in 2020, Ceto has three platforms: Watchkeeper uses AI to track ships in real time, spot issues early, and keep fleets running safely and efficiently; CarbonID handles emissions and fuel tracking; and Connected Insurance ties a ship’s performance data to its insurance, rewarding safer and more efficient operations with better terms and lower premiums.
“At Ceto, we aim to unite the power of AI with the indispensable human expertise at the heart of maritime,” said Tony Hildrew, CEO and Founder of Ceto. “This kind of technology plays a critical role in identifying risk and improving decision-making, ushering in a smarter era for shipping and finance.”
The round was led by Dynamo Ventures with participation from Howden Ventures, Signal Ventures and Motion Ventures.
“Maritime operations are the backbone of industry, with 80% of global trade by volume taking place over sea,” said Santosh Sankar, Managing Partner of Dynamo Ventures. “An industry with this much global reliance is insured using analog practices that are a hundred years old. Ceto’s quest to reshape the future of maritime insurance is not just inspirational – it’s necessary. Our world won’t move forward if our supply chain is stuck in the past, and Dynamo is excited to be supporting Ceto as they embark on this journey to improve how these assets are monitored, maintained, and insured.”
Danny Whiteside, Global Practice Leader Marine, Cargo & Logistics at Howden added, “In today’s unpredictable market, shipowners are under growing pressure to navigate increasingly complex risks, from geopolitical instability and rising repair costs to the challenges of managing ageing fleets and meeting tightening environmental regulations.
“Insurance has a crucial role to play in supporting clients through these complexities, not just by providing protection, but by evolving alongside the industry to remain relevant and forward-looking. Ceto is a clear example of that evolution; by providing a comprehensive support system built around data, risk insights, and responsive underwriting.”
