Norwegian maritime navigation software provider Navtor has received a majority investment from American technology-focused private equity firm Accel-KKR.
Navtor provides e-navigation solutions including electronic navigational charts (ENCs), digital maritime publications, route optimisation and fleet management across an integrated platform.
According to Navtor, the global maritime e-navigational industry is expanding due to new regulations, an increased focus on safety and ESG goals and advances in technology.
“The sheer size of the global maritime industry and the continuing digitization of fleets bode well for the future of Navtor,” said Maurice Hernandez, head of the European office at Accel-KKR. “Pairing Navtor’s mission-critical software and the deep domain expertise of its management team with AKKR’s know-how in accelerating growth in software companies will lead to exciting outcomes for the marketplace and customers. We look forward to working closely with the NAVTOR team in the coming months and years.”
Accel-KKR was founded in 2000 as a partnership between Accel Partners and KKR.