Quartermaster, an Arlington-based startup specializing in maritime surveillance, has secured $140 million in a Series B funding round. This follows a $43 million Series A round completed in May. The new capital includes $100 million in equity from investors such as Insight Partners, Overmatch Ventures, and First Round Capital, alongside a $40 million debt facility provided by Stifel.
The company develops SmartMast, a hardware system mounted on ship masts that integrates cameras and radios to collect real-time maritime data. This technology aims to provide more detailed information than standard automatic identification systems. Currently, SmartMast is installed on over 650 vessels across 25 countries, with more than 800 units shipped to customers.
CEO Neil Sobin stated that the startup is preparing to deploy its systems across entire fleets. To meet increasing demand, Quartermaster has doubled its manufacturing capacity and optimized its hardware design for faster production. The collected data is used by shipping companies, governments, and insurance providers for tasks such as collision avoidance and monitoring shipping lane congestion.
