Extension of Series B for Vaarst
Silverpeak attracted additional investment to accelerate Vaarst's global growth plans
Who are they
Vaarst is a leading provider of subsea 3D computer vision, SLAM technologies and AI-based technology. Its technologies enable subsea ‘digital twin’ creation. This, alongside the growth in the ‘blue-economy’ sector, has driven more participation from existing investors and attracted additional investors including the Strategic Development Fund and Future Planet Capital.
Rovco, its sister company, delivers Vaarst technology into the energy transition space.
Vaarst and Rovco accelerated their global expansion plans in March following the first close of the Series B raise. They entered the US market through the strategic appointment of Mitch Johnson, their new Americas Director. Existing customers now include Iberdrola, SSE and Deepocean.
More recently, the company signed a contract with Van Oord to perform subsea investigation works on Hollandse Kust Noord (a Dutch offshore wind farm.)
What was our involvement
Our expertise in deeptech, software and the international investor market enabled us to position the company as an autonomous robotics leader in the global blue technology sector. This attracted attention from international financial investors and strategic counterparties with a strong interest in renewable energy and ESG-focused investments.
David Ford, Partner at Silverpeak, led the process. He said: “We are delighted to be the ongoing /retained advisors to the Vaarst and Rovco teams as they accelerate their global growth plans. The additional investment announced here demonstrates Vaarst’s technology leadership in the marine robotics marketplace, and the Rovco team’s ability to effectively execute complex offshore contracts.”