Venture Capital Access Online | Venture Capital News
Summary
Shipping bulk commodities like crude oil, gas and petrochemicals is still a highly manual and complex process, with $360 billion in ocean freight managed globally by email, phone, fax and text in a high-volume, fast-paced environment. Data is decentralized and unstructured, and the process is rife with inefficiencies, lost opportunities, costly human errors and, overarchingly, billions in losses, said Matthew Costello, Chief Executive Officer and Co-Founder of Voyager. From their work in maritime, Costello and Smart executed a study that showed roughly 40 percent of employee time in the industry was spent on low-value and low-complexity tasks, such as manual data entry, error checking documents and forwarding. Realizing this was a global problem that impacts the entire maritime value chain of brokers, shipowners, producers and terminals, the founders devised the Voyager SaaS solution for streamlined operations and improved communications. Blue Bears portfolio covers AI, IoT, and cyber security technologies, all deployed with leading enterprise customers as they improve the economics of wind, solar, and storage while driving efficiencies across the energy industry.