# OpenROV

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/openrov

- Industry: Electronics
- Headquarters: Berkeley, US
- Website: www.openrov.com
- Total disclosed funding: $1.3M
- Latest round: Seed (Jun 19, 2013)
- Investors on record: 2

## About

OpenROV, Inc. designs and manufactures advanced underwater robotics, focusing on remotely operated vehicles (ROVs) for marine exploration, targeted at both recreational and professional users.OpenROV, Inc. was founded in 2012 in Berkeley, US, and specializes in underwater robotics and marine exploration technology. The company was established by Eric Stackpole, who has a history in entrepreneurial ventures. OpenROV has received a total of USD 1.30 mn in funding over two deals, with the most recent deal being a Venture Debt round in October 2016, raising USD 0.75 mn.OpenROV specializes in underwater robotics and marine exploration technology, focusing on the design and manufacture of advanced remotely operated vehicles (ROVs). Their flagship product, the Trident, is engineered for both casual adventurers and professional marine researchers, allowing users to explore underwater environments with ease. The Trident features high-definition cameras, powerful thrusters, and a user-friendly interface, enabling real-time streaming and navigation underwater. The primary end users include marine researchers, educators, and recreational enthusiasts who seek to explore and understand marine ecosystems. OpenROV products are marketed globally, with significant penetration in North America, Europe, and parts of Asia, catering to a diverse clientele ranging from educational institutions to marine conservation organizations.OpenROV's revenue model predominantly hinges on direct-to-consumer sales, with transactions occurring primarily through their online platform. Customers purchase ROVs and associated accessories, which may include batteries, additional cameras, and software. The company also engages in partnerships with educational institutions and marine research organizations, providing tailored solutions for academic programs and research initiatives. Pricing plans are structured to cater to various segments, with flagship products like the Trident available at a premium price point due to their advanced features and capabilities. Through this structured approach, OpenROV effectively serves a wide array of clients, fostering growth and innovation within the marine technology sector.OpenROV plans to leverage its recent funding of USD 0.75 mn from October 2016 to enhance its product line and expand into new markets. The company is currently developing new ROV models aimed at both educational and recreational sectors with anticipated releases in the next two years. Moreover, OpenROV is targeting growth in Asian markets, aiming for a significant presence by 2025.

## Funding rounds

- Seed, Jun 19, 2013, $1.3M — True Ventures, SK Ventures

## Investors

- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Seed
- SK Ventures — Seed