FORWARD.one invests in bathymetric forecasting solution CoVadem
7 December 2018. Inland shipping depth measurement and forecasting technology company CoVadem (https://www.covadem.com/) signs a series A funding round led by FORWARD.one and PDENH.
This funding comes after the successful implementation and tests with 60 measuring ships and will enable the company to accelerate its mission to have up to date forecasting always available for the total 12,500 commercial ships active in Europe.
Ever changing depths and river bed conditions make it inland shipping difficult. CoVadem continuously provides up-to-date water depths information by combining a 'sailing network' with state of the art technology. Also, climate change introduces an increased appearance of extreme river conditions. Optimising the amount of cargo and both choosing and maintaining the most efficient operation, therefore, remains a challenge.
With the use of the CoVadem technology vessel owners and skippers can optimise their cargo volume, sail more efficiently and save on fuel and environment. Fairway managers and dredging companies can introduce innovative pro active maintenance procedures and improve effectiveness whilst gaining efficiency.
"This new funding round fuels CoVadem’s position as the leading depth forecasting technology and will accelerate our expansion," said CoVadem CEO Meeuwis van Wirdum.
"At FORWARD.one, we are excited to see founders re-imagining an industry. It is clear that these smart sensors, data intelligence and mobile services will revolutionize the inland commercial shipping. We are very passionate about the work that the CoVadem team does for an important part of the economy," said FORWARD.one partner Riemer Smink.