Swedish startup Cetasol has raised €2.3 million in a seed round to expand its AI-powered decision support solutions, targeting fuel savings and emissions cuts across the maritime sector.
The round was co-led by BackingMinds and Shift4Good, with continued support from existing investor Sarsia. The investment will accelerate the roll-out of Cetasol’s iHelm platform, which delivers 10–25% fuel savings for small to mid-size vessels.
“This investment confirms that our approach to AI-driven decision support and maritime sustainability is both needed and trusted. With this support, we are scaling faster and wider — delivering intelligent solutions to maritime operations globally,” said Ethan Faghani, CEO and Founder of Cetasol.
Shipping is responsible for about 3% of global CO₂ emissions, with small and mid-sized vessels representing nearly 90% of the fleet.
Cetasol argues these ships offer the most immediate path to climate impact, with iHelm using real-time and historical vessel data to optimise performance, lower costs and reduce GHG emissions.
