Setting the Scene
The maritime sector, traditionally reliant on fossil fuels, is facing a significant challenge in reducing its carbon footprint.
However, switching to carbon-neutral fuel creates a few problems:
For long passages batteries are too bulky and expensive.
Alternative fueling creates a chicken-and-egg infrastructure problem.
Competing sail technologies are too large to fit on most ships.
This week’s company leverages wind energy to provide a cost-efficient and sustainable solution in the shipping industry.
In a Sentence
Outsail manufactures a retractable, autonomous windsail, advancing the decarbonization of the shipping sector.
Retractable: The wing sail's retractable design enables compact storage, enhancing maneuverability and aerodynamics for ships of all sizes.
Autonomous: The wingsail requires no management from captain or crew and can be engaged with a single button press.
The Basics
Industry: Maritime Transportation
Headquarters: Redwood City, California
Year founded: 2022
Employee count: 4
Investors: Y Combinator, Climate Capital, Collaborative Fund, Venture Hacks Fund , Sandhill Investments, Hephaestus Ventures, Balaji Srinivasan, Alan Rutledge.
Amount raised: $1.1 million Pre-Seed
Currently raising: $4M Seed
Business model: B2B2C- Broker the yacht deal, sell the wing
Early traction: $32M in LOIs from major yachtbuilders and leading customers in commercial shipping, plus two versions of our deployable wingsail tested on the water
,
IN PARTNERSHIP WITH
Are you an early-stage company looking to capture leads from buyers who are interested, but not yet ready for a sales cycle?
Haggle allows potential customers to anonymously request "pre-demo" videos and ask questions, facilitating engagement without pressure.
Streamline your sales by focusing on leads that are pre-qualified and genuinely interested, saving you time and effort.
Gain valuable insights on which companies are engaging, helping you tailor your marketing strategies more effectively.
Due Diligence
WHAT WE LIKE
Sustainability: Outsail's innovations align perfectly with global regulatory shifts towards decarbonization, positioning the company as a pivotal player in helping the maritime industry meet stringent environmental standards.
Additionally, in adverse conditions, vessels equipped with Outsail’s wings harness solar energy to charge their batteries, ensuring motor operation if needed.
Proprietary Technology Advantage: Outsail's retractable and autonomous wingsail technology, capable of fitting any vessel, sets a new industry standard for efficiency and adaptability, distinctively placing it ahead of competing sail technologies that are limited by size and scope.
POTENTIAL RISKS
Technological Integration: Integrating Outsail's advanced wingsail technology with existing maritime vessels and infrastructure requires overcoming significant technical and logistical barriers.
Market Adoption: The success of Outsail hinges on its ability to convince an industry traditionally resistant to change to adopt its innovative wingsail technology, a task that may prove challenging despite the clear environmental and economic benefits.
Long Sales Cycles: The inherently long sales cycles of the maritime industry, driven by high capital expenditures and lengthy decision-making processes, could slow Outsail's growth and extend the time to profitability.
,
Founder Profile
Arpun Rau, CEO: Previously designed hardware for NASA and SpaceX.
Comps
Bound4Blue: Backed by EIT Climate, GTT Strategic Ventures, and the European Innovation Council
Norsepower: Backed by Valve Ventures, VNT Management, Business Finland, and the European Innovation Council
Ayro: Backed by Ocean Zero, GO Capital, and BPI France
BAR Technologies: Acquired.
Event Board
Industry Dinners
Upcoming Events (Interested in getting in front of thousands of founders and investors IRL? Work with us)
June NYTech Week Events TBA
Cast Your Vote
What do you think of Outsail?
Last Week Today
The results are in: Wallaroo.AI, a software company that enables businesses to efficiently implement and improve AI in existing workflows, was favored in last week’s poll.
Subscriber feedback: “Given the heavy cost of capital to accurately and effectively onboard AI, this company is key to an exponentially growing market”
,
