Quartermaster raises $140 million for maritime surveillance amid Iranian disruptions
Business
Quartermaster, a Virginia-based ocean surveillance startup, just scored $140 million in new funding as strong demand for maritime data and awareness continues, especially with recent disruptions linked to the Iranian conflict.
Founder and CEO Neil Sobin says they're using these world events to push their technology even further.
Insight Partners, Stifel fund SmartMast production
Most of the funding came from Insight Partners and other big investors, plus a $40 million boost from Stifel.
The cash will help ramp up production of Quartermaster's SmartMast system, a real-time data tool already on more than 650 ships in 25 countries.
After doubling manufacturing capacity, they're aiming to make shipping safer and more efficient worldwide.