GSTS Completes Funding Raise

HALIFAX, NS, Sept. 8, 2022 /PRNewswire/ -- Halifax-based Global Spatial Technology Solutions (GSTS), a leading provider of global maritime data and analytics, has completed a funding raise totaling $4.1M to enable the company to execute its growth strategy and prepare for scale up. 

The funds will be used to accelerate the roll out of GSTS's Maritime Artificial Intelligence Platform, OCIANA™. GSTS has developed OCIANA^TM in collaboration with various user groups across the defence, civil and commercial sectors to provide decision support intelligence and improve predictability. To date over $14M has been invested in developing and validating the system performance.

OCIANA^TM collects and processes data from an ever-increasing range of sensors as well as customer provided data sets to enable decision support related to maritime logistics, security and risk management and emissions reduction. OCIANA^TM is a highly scalable and modular platform that can integrate with existing systems or be deployed in a stand-alone capacity. It is currently being utilized by ports, terminals, pilotage authorities, shipping lines as well as defence and civil agencies. OCIANA™ is unique in that it can be configured for any operational, geographic, and business or operational characteristics, providing unparalleled optimization performance.

"We have validated the performance of OCIANA™ with all market segments and are preparing for scale up in 2023," said Richard Kolacz, GSTS CEO. "The full potential of our platform is being realized by customers as they use the system. We have an aggressive growth target we are striving for in terms of market share, enabled by a combination of new data sources, AI enabled analytics and maritime domain knowledge."

The current round of financing will specifically support the hiring of executives to round out the management team as well as new engineering, sales, and marketing personnel. The full financing package is also meant to position GSTS for a new equity raise in the near future.

GSTS is a leader in Artificial Intelligence solutions for the maritime domain. Our solutions are designed to save lives, energy, and the environment and support logistic resilience on a global scale through the use of innovative applications based on emerging data sets and analytics. Our solutions enable enhanced decision-based operations for civil, commercial and defence and security agencies and industries. For more information, visit www.gsts.ca

For more information see: https://www.bdc.ca/en/about/mediaroom/news-releases/gsts-secures-2-million-non-dilutive-financing-bdc-capital

Global Spatial Technology Solutions Inc., Stephen Martins, GSTS, Email: [email protected], Twitter: @gsts_info