DockTech completes new US$ 2.5 million investment round with the participation of Wilson Sons and venture capital funds

  • 29/11/2022
  • 4 minutes

Israeli startup receives financial contributions to scale up dynamic collection of
waterway depth data and improve the technology

Founded by entrepreneur and former Israeli Navy officer Uri Yoselevich, the
startup DockTech, through digital twin technology and massive data analysis,
devised a solution that uses bathymetric (depth measurement) data collected by
tugs and other harbour vessels to create a virtual representation of the seabed of
ports and waterways. The solution consists of real-time tracking of waterway
depth and understanding how the silting pattern of ports can affect shipping and
cargo transport safety.

The startup currently has operations in five countries, with 95 vessels monitored
in 35 locations. In addition to monitoring the ports of Brazil using Wilson Sons’ 80
tugs, the startup operates in the United States (Tampa Bay), Colombia
(Barranquilla), Romania (Danube) and Israel (Ashdod and Danchor).

“Over the last few months, DockTech has received positive feedback and a lot of
input to bring its product to the current stage. The latest tests in Brazil, our biggest
market today, and in other parts of the world, show us that the insights generated
by our technology help ports in the daily management of operations. If we can,
with this technology, avoid unnecessary costs through more assertive dredging
planning, and allow greater volumes of cargo loading onto ships, for example, we
will be fulfilling our purpose,” said DockTech CEO and co-founder Uri Yoselevich.

Wilson Sons, the largest integrated operator of port and maritime logistics in
Brazil, has been reaffirming its commitment towards innovation and sustainability
in the Brazilian industry. With new capital injections, the company increased its
minority interest in DockTech and, with other foreign investors, it helped the
startup to raise about US$ 2.5 million. The new investment round also included
the participation of venture capital funds theDOCK (Israel) and Cultivation Capital
(USA), as well as some retail investors. The funds raised will support the startup
in the development of new applications, commercial prospecting and will help
scale up the product.

“The global port infrastructure does not yet have any instruments capable of
monitoring in real time the depth of shipping lanes and access to berths. Our
solution makes it possible to perform this measurement dynamically while
avoiding operating draft restrictions, one of the biggest pains in the port industry”,
Yoselevich says.

In December last year, Wilson Sons and DockTech took an important step in the
development of the technology. A technical cooperation agreement was signed
with the Santos Port Authority (SPA), a relevant milestone for the improvement
and use of the technology in the Port of Santos, the largest port complex in Latin
America. Upon signing this agreement, the startup has been confirming the value
of its solution, with letters of intent signed in several other Brazilian ports, such
as with CODESA, Praticagem do Rio de Janeiro, Porto do Açu and Portos RS.
“With the technology developed by DockTech, we scan the seabed for variations
and collect data in real time, 24 hours a day. This is to avoid ship draft restrictions
and increase shipping safety, also allowing the optimization of dredging
investments in Brazilian ports,” said Eduardo Valença, digital transformation
director at Wilson Sons.

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