Pyxis Raises $3.35 Million in Seed Funding for Electric Maritime Technology

Singapore-based electric vehicle startup Pyxis has secured SGD 4.5 million ($3.35 million) in seed funding to expand production of electric harbor vessels and advance electrification technology. The round was led by impact fund Shift4Good and fund Motion Ventures.

Additional participants in the fundraising round included venture fund ShipsFocus, Enterprise Singapore's investment arm Seeds Capital, MarImpact, Tian San Shipping, Kim Ann Investments, and LCC Resources.

Pyxis aims to facilitate the commercialization and adoption of electric coastal vessels by offering a simplified solution for marine vessel owners to decarbonize their fleets. The company was formed in 2022 by Tommy Phun, who has ten years of experience in the marine industry and aims to build a more sustainable maritime future.

The Maritime and Port Authority of Singapore has issued a directive requiring all new harbor vessels operating in the country to be entirely electric by 2030. Pyxis and Mitsui O.S.K Lines are already partnering to develop and promote electric vessels in Singapore and Japan.