Ocean Logistics Startup $60M Raised for Global Shipping

What this short covers

Rylan Hamilton, cofounder of Blue Water Autonomy, discusses his company which has raised $60M for global shipping and is revitalizing US shipbuilding through designs engineered to scale and build autonomous warships.

Transcript

The most obvious reason is, you know, uh I'm a repeat founder and I had a successful exit and so it makes a lot easier to get your foot in the door with investors. Um and I think the second thing is this opportunity is 10x bigger than my last company. Uh if you think about, you know, what we're doing at a very kind of basic level, we move payloads across the open ocean and where our aim is to do at a lower cost. In the same way that SpaceX basically launches payloads into space and has been able to do it at dramatically lower costs, we're just doing it at the surface of the ocean. Um, and because of 80% of the world's GDP moves across the open oceans, there's just a massive opportunity. Our first customer is the Navy and the US Navy. Um, but you know, our investors saw like a much bigger opportunity. So, it was easier, it's been easier to raise money. And so over the last two years,

we've already raised over $60 million from investors like Google Ventures and Eclipse and Riot.

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