Ocean Freight Exchange (OFE), the rapidly developing provider of AI and predictive analytics tech to the dry bulk and tanker markets, has raised $3.3m in an oversubscribed seed round.
Investors for this round include Peter Evensen, previously president and CEO of Teekay and head of shipping at JP Morgan. Other entities to have shown support for OFE include Nextview, the cofounders of LinkedIn and Foundation Capital, an early investor in both Uber and Netflix.
OFE was founded in 2015 and currently has 25 staff with plans to double staff to scale business operations.
Speaking with Splash, John Hahn, OFE’s co-founder and CEO, said: “We’ve heard in the market repeatedly that if OFE provides the same functionality of AXS Marine, even at the same cost, that clients would use OFE due to the conflict of interest that is AXS Marine. We’ve built just that and there’s also a waiting list for our joint-venture predictive analytics with the data company ClipperData, which is being rolled out to clients.”