NEW YORK, April 30, 2025 /PRNewswire/ — Ceto, the technology system reshaping the future of maritime insurance, announced a $4.8M fundraising round. The round was led by Dynamo Ventures, with participation from Howden Ventures, Signal Ventures, and Motion Ventures.
Ceto captures and analyzes high-frequency data from commercial ships to improve insurance risk selection, reduce machinery failures, and enhance fuel efficiency. These insights are delivered through an integrated dashboard, powering a first-of-its-kind connected insurance product backed by leading global insurers. Ceto’s customer base spans a range of shipping companies, including a major Japanese operator, a mid-sized Singapore-based firm, and a UK owner with a fleet of eight vessels. Client fleets range from just a few ships to as many as 440, leading to thousands of tons of CO₂ emissions saved, fewer breakdowns, and reduced operational risk.
“For as long as humans have existed, so has our desire to sail the open water. It’s no surprise then that maritime—one of the world’s oldest industries—still relies on some outdated practices,” said Tony Hildrew, CEO and Founder of Ceto. “At Ceto, we aim to unite the power of AI with the indispensable human expertise at the heart of maritime. This kind of technology plays a critical role in identifying risk and improving decision-making, ushering in a smarter era for shipping and finance.”
Ceto’s platform is unlocking a wealth of data for maritime operators. For some, this means a whole new world of insights at their fingertips. Owners and operators starting fresh with data can be fully onboarded and online in about 1-2 days. For those who already have an existing data capture solution, Ceto can use that available information and have a full fleet online in their system within 2-4 hours, faster than any competitor on the market.
“Maritime operations are the backbone of industry, with 80% of global trade by volume taking place over sea,” says Santosh Sankar, Managing Partner of Dynamo Ventures. “An industry with this much global reliance is insured using analog practices that are a hundred years old. Ceto’s quest to reshape the future of maritime insurance is not just inspirational – it’s necessary. Our world won’t move forward if our supply chain is stuck in the past, and Dynamo is excited to be supporting Ceto as they embark on this journey to improve how these assets are monitored, maintained, and insured.”
Ceto helps ship owners run smarter, greener, and more cost-efficient operations with three key tools. Their main platform, Watchkeeper, uses AI to track ships in real time, spot issues early, and keep fleets running safely and efficiently. CarbonID handles emissions and fuel tracking, helping ships stay compliant with environmental rules while cutting costs and pollution using AI. Connected Insurance ties a ship’s performance data to its insurance, rewarding safer and more efficient operations with better terms and lower premiums. Altogether, Ceto uses smart tech to optimize performance, reduce emissions, and unlock more flexible insurance options.
The funding from this round will go toward Ceto’s ongoing global expansion of both its product and team. As it takes on a growing international customer base, Ceto is scaling its engineering, operations, and sales teams and has appointed Bob Clarkson as Chief Underwriting Officer, further deepening its insurance and risk expertise. With more than 30 years of experience in marine insurance, Bob has led across underwriting, claims and served as an in-house insurance manager within shipowners’ offices. To explore current opportunities, visit [www.ceto.ai/careers].
About Ceto
Ceto is a leader in predictive analytics for the maritime industry, developing products to prevent machinery breakdowns, reduce carbon emissions, and deliver best-in-class risk insights. With a focus on technology, sustainability, and risk mitigation, Ceto is dedicated to empowering maritime professionals to meet the challenges of today and tomorrow.
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SOURCE Ceto AI
