Pyxis bags $3.4m to help make the maritime industry greener

Photo credit: Robert Ang / Shutterstock

Singapore’s maritime industry is vital for the city-state, linking to over 600 ports around the world. The country also has the busiest transshipment port worldwide, transporting 80% of the world’s cargo.

But what comes with this workload is an increase in global carbon dioxide emissions, with the maritime industry still being largely dependent on fossil fuels. One local startup looking to solve this issue is Pyxis, which focuses on maritime electrification.

The company has secured S$4.5 million (US$3.4 million) in a seed funding round co-led by Motion Ventures and Shift4Good. Other participants of the fundraise include Seeds Capital, MarImpact, ShipsFocus, Tian San Shipping, Kim Ann Investments, and LCC Resources.

Founded by Tommy Phun in 2022, Pyxis aims to spearhead the commercialization and use of electric coastal vessels. It will use the new funds to accelerate its electrification tech development and expand the production of its electric harbor crafts.

The company recently partnered with Mitsui O.S.K Lines to produce and promote electric vessels in Singapore and Japan. It was also chosen by The Maritime and Port Authority of Singapore for a vessel charging pilot at Marina South Pier.

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Currency converted from Singapore dollar to US dollar: US$1 = S$1.34.