International law firm CMS has advised Armada Technologies on its USD 3.2m seed funding round. The round was led by Cool Company Management Ltd, with Ecochlor, Inc., Future Planet Capital, through its Blue Ocean Fund, Founders Factory, through the Blue Action Accelerator and Oxford Seed Fund also participating.
Founded by experts in maritime engineering, Armada Technologies addresses the critical challenges of fuel consumption and emissions in the shipping industry. Its Passive Air Lubrication System (PALS) revolutionises hull lubrication by using a ship’s own motion to create an air and water mix that reduces fuel consumption, carbon emissions, and underwater noise. These funds will allow Armada Technologies to expand its market reach and accelerate the shipping industry’s transition to cleaner and more efficient technologies.
The CMS Venture Capital team was led by Tom Jameson with support from Sidrah Amin and James Clarke (Corporate).
Additional details on the financing can be found here.
