- Pyxis raised $3.4M to electrify maritime vessels, reducing shipping emissions.
- Funding to advance electric coastal crafts and port charging infrastructure.
- Startup’s technologies position it to lead Singapore’s maritime electrification efforts.
Pyxis, a Singapore-based startup focused on maritime electrification, has raised S$4.5 million (US$3.4 million) in a seed funding round, the company announced this week.
The round was co-led by Motion Ventures and Shift4Good, with participation from several other investors.
Driving electric vessel innovation
Founded in 2022 by Tommy Phun, Pyxis aims to promote and commercialize electric coastal vessels in order to reduce carbon emissions produced by the maritime industry.
The bulk of Pyxis’ new financing will go towards accelerating the development of the company’s electrification technologies and expanding the production of its electric harbor crafts.
Impact on the maritime industry
Pyxis recently partnered with Japanese shipping giant Mitsui O.S.K Lines to produce and promote electric vessels in Singapore and Japan. The startup also caught the attention of the Maritime and Port Authority of Singapore, which selected Pyxis for a vessel charging pilot program at the busy Marina South Pier.
The shipping industry is still heavily reliant on fossil fuels. Pyxis’ technologies and initiatives to electrify coastal vessels could significantly reduce greenhouse gas emissions and air pollution produced by one of Singapore’s most important economic sectors.
The startup’s recent successes have positioned it at the forefront of maritime electrification efforts in Singapore and beyond.
