Norwegian-Portuguese startup Nortech AI raises €2.5m for plug-and-play IoT solution

Norwegian-Portuguese tech innovator Nortech AI is set to catalyze the maritime industry’s transition from reactive to proactive use of data, heralding a new era of cost savings and environmental conservation through reduced greenhouse gas emissions. The startup has raised a €2.5 million Seed round of funding from Indico Capital Partners and Earlybird-X, both funds investing in climate tech companies over the last few years.

Francisco Roque, CEO, Nortech AI: ''Our mission is steeped in simplicity and efficiency. We envision a world where businesses leverage the power of industrial IoT without the accompanying complexities. It’s about creating a future where digitalization is not a hurdle, but a pathway to sustainable and smart operations.''
 
Nortech AI is starting by addressing the lack of connected information and waste of resources facing the maritime industry. The company’s plug-and-play solution, already being used by many customers in the Nordics, offers remote commissioning and is devised to capture and use industrial IoT data effectively. Vessels and their respective businesses can speed up their digital initiatives, thus making real-time decisions, and enhancing their operations. The solution functions through the use of scalable data models - built with live operational data and simulation data - where templates developed from successful proof-of-concepts can be contextualised and reused to solve many use cases with the same model. Ultimately, the platform aims to interconnect a wide range of industrial needs - from data analytics to process automation. What is now done in the maritime industry can also be done in the future in multiple industrial settings, something that this round will enable in terms of product development.
 
Stephan Morais, Managing General Partner, Indico Capital Partners: ''The maritime industry is ripe for the implementation of software that helps it become more sustainable. Nortech´s software is fast to integrate with existing systems onboard and therefore allows ships´ operations to become more sustainable immediately. We are proud to be supporting this transition of the global maritime industry with our Blue Fund.''
 
Michael Schmitt, Partner, Earlybird-X: “Industrial IoT is a critical conduit for streamlined, intelligent, and sustainable operations. Nortech AI simplifies the digitalization journey, empowering industries to become more data-driven without hassle.”
 
At Nortech AI’s Bergen and Lisbon offices, a team of seasoned experts in the maritime market and beyond are committed to facilitating the seamless transition of businesses into the digital age, with a deep understanding of the industry's nuanced demands.  
The company’s unique platform is designed to assist not only the maritime market but also other asset-heavy industries in shifting to data-driven decision-making, enhancing their capability to reduce greenhouse gas emissions and fostering sustainability.

www.nortech.ai
www.indicocapital.com