AI startup bags funding from impact heavyweights to slash shipping emissions: 'It's a real blind spot'
24 sep. 2025
09:10
Cetasol, a Swedish startup founded by the former AI chief at Volvo Penta, Ethan Faghani, has raised €2.3m to slash the fuel-use of small vessels.
The round was led by French mobility VC Shift4Good and Sweden's Backing Minds.
"We’re always looking for big problems that need big solutions," Susanne Najafi, founding partner at Backing Minds, tells Impact Loop. "In shipping, most of the focus has been on large vessels, but smaller and mid-sized ships remain a blind spot."
The round was led by French mobility VC Shift4Good and Sweden's Backing Minds.
"We’re always looking for big problems that need big solutions," Susanne Najafi, founding partner at Backing Minds, tells Impact Loop. "In shipping, most of the focus has been on large vessels, but smaller and mid-sized ships remain a blind spot."
Shipping is responsible for about 3% of global CO₂ emissions. And larger vessels especially, are notoriously difficult to decarbonise.
Instead, Cetasol is targeting smaller and mid-sized ships – nearly 90% of the world’s fleet. The company claims its AI software can reduce the amount of fuel these boats use by 10–25%.