PingMe

PingMe

A unique solution for locating, positioning and identifying objects under water.

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DateInvestorsAmountRound
-investor investor investor

€0.0

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NOK16.0m

Seed
Total Funding000k

Financials

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Revenues, earnings & profits over time
NOK20202021202220232024
Revenues00000000000000000000
% growth--(17 %)144 %484 %
EBITDA00000000000000000000
Profit00000000000000000000
% profit margin-(1861 %)(5304 %)(7583 %)(1656 %)
EV00000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x
R&D budget00000000000000000000

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More about PingMe
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Ocean Space Acoustics AS, operating under the brand PingMe, is a technology firm focused on the maritime sector, particularly commercial fisheries and aquaculture. The company spun out of SINTEF, Norway's largest research institution, in 2018 to commercialize a patented acoustic technology developed over many years of research. It was founded in Trondheim, Norway, by Tone Berg and Odd Trandem. Trandem, who serves as Chief Scientist, has a background that includes key contributions to the GSM standard and DVB-T (digital TV).

The company's core offering is the PingMe™ system, an underwater acoustic communication solution designed to locate and monitor submerged equipment. The system addresses the significant operational and environmental problem of lost fishing gear, often referred to as "ghost fishing," which poses a threat to marine ecosystems and represents a financial loss for fishing operators. The PingMe system consists of three main components: a transponder with a unique ID attached to fishing gear, a transmitter/receiver unit on the vessel, and a cloud-based data platform. When the vessel "pings" the transponder, it responds with its ID, position, and data on its surroundings, such as water temperature and depth. This information is then processed, displayed on the vessel's chart plotters, and stored in the cloud, where it can be accessed via an app for further analysis by stakeholders like shipowners.

PingMe targets the global fishing and aquaculture industries. By providing real-time tracking, the technology helps fishers quickly retrieve lost gear, reducing plastic pollution and equipment costs. It also enhances operational efficiency by providing environmental data that can help in targeting specific species, like snow crabs, or optimizing the placement of gear. In August 2022, the company's product was nominated for the Nor-Fishing Innovation Award. The firm has successfully raised capital to support its growth, securing NOK 16 million in an August 2022 funding round from investors including Grieg Kapital, Sintef Venture, and Investinor.

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