DockTech completes new US$ 2.5 million investment round with Wilson Sons, venture capital funds

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 harbor 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.

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 and commercial prospecting and will help scale up the product.

“The global port infrastructure does not yet have any instruments capable of monitoring the depth of shipping lanes and access to berths in real-time. 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 developing the technology. A technical cooperation agreement was signed with the Santos Port Authority (SPA), a relevant milestone for improving and using 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 [Pilotage], the Port of 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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