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Sydney-based ocean robotics company Hullbot has raised $16 million in a Series A round to capitalise on demand for its innovative hull-cleaning technology and support its mission to become a key player in shipping’s decarbonisation transition.
The capital raise was led by Regeneration.VC, with participation from Katapult Ocean, Climate Tech Partners, Folklore Ventures, Trinity Ventures, Rypples, NewSouth Innovations, Artesian, and Impact Ventures/Ocean Impact Collective.
Founded in 2015 by Tom Loefler and Karl Watfern, Hullbot designs, builds and deploys autonomous underwater robots that proactively clean and inspect ship hulls.
The technology, which secured the 2025 Australian Good Design Award of the Year, enables frequent cleaning of ship hulls which the company says delivers proven fuel savings of 15 per cent on average and up to as much as 26 per cent.
Hullbot points out that its technology not only cuts operational costs but also prevents pollution and reduces emissions.
“We are committed to showing how Australian innovation can take on one of the world’s hardest-to-abate sectors,” says Loefler, the CEO of Hullbot.
“Hullbot sits at the intersection of shipping efficiency, decarbonisation, and ocean health. This raise allows us to take that impact to the next level.”
The company plans to use the proceeds from the capital raise to grow production capacity, create larger robotic systems and establish more international service hubs.
Hullbot already has operations in the US, Mexico, Europe, Singapore and Australia, where Sydney Ferries is a customer.
“Tom Loefler struck us as someone uniquely placed to address this unsolved problem, alongside the highly technical team he has assembled,” says Alister Coleman, partner at Folklore Ventures.
“Folklore is proud to partner with Tom and the Hullbot team, as they continue to see strong traction with major marine customers globally.”
Hullbot has completed more than 1,000 cleans globally, across ferry, commercial shipping and fishing operations.
The company says shipping accounts for about one billion tonnes of CO2 emissions every year, and even a thin layer of biofouling on a ship’s hull can drive fuel overconsumption by more than 20 per cent.
Hullbot says the capital raise will drive a major growth phase for the company as demand for proactive hull cleaning rapidly increases across its markets.
“I’m blown away by this team of mariners, roboticists, and software engineers,” says Destana Herring, principal at Regeneration.VC.
“This is ingenious technology ripe with commercial proof at a critical inflection point for international maritime. We see a validated multi-billion-dollar opportunity to decarbonise world-leading fleets.”
Ross Brooks, general partner at Katapult Ocean, says: “Hullbot has a unique value proposition which leverages the strengths of its robotics with a laser focus on its customers’ problem.”
In addition to scaling manufacturing and strengthening its global service network, Hullbot also plans to apply funds from the capital raise to expand its next-generation robotic systems to accommodate larger vessel classes.
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