Core Insights - Cetasol, a Swedish AI company, has raised €2.3 million ($2.7 million) in seed funding to enhance its AI-driven decision support and digital twin technology aimed at reducing fuel consumption for ships [1][4] - The investment was co-led by BackingMinds and Shift4Good, with continued support from existing investor Sarsia [1] - Cetasol's primary product, iHelm, utilizes digital twin technology to collect data from vessels and optimize fuel consumption, targeting small- and medium-sized ships that represent nearly 90% of the global fleet [3][4] Funding and Investment - The seed funding round of €2.3 million ($2.7 million) will enable Cetasol to scale its technology and expand its commercial reach in the maritime industry [1][4] - BackingMinds CFO Niclas Wijkstrom highlighted that Cetasol is addressing a significant gap in the maritime industry [2] Technology and Product Features - The iHelm platform processes information through edge computing, providing real-time fuel-saving recommendations to ship captains [2] - The system transmits operational data to a cloud-based dashboard, allowing users to access performance metrics, address maintenance needs, and track compliance [2] - Estimated fuel savings from using iHelm range from 10% to 25% [4] Market Opportunity - Cetasol identifies a market opportunity in small- and medium-sized vessels, which are often underserved and lack access to affordable optimization tools [3] - The company aims to further develop its technology platform to meet industry demands for data-driven operations and sustainability measures [5]