ZeroNorth in a $50 million series B backed by PSG Equity, Cargill and AP Moller Holding

ZeroNorth, a Copenhagen, Denmark-based software developer for the shipping industry, announced closing series B equity round at $50 million.

The money was raised from investors led by the US-based PSG, and joined by existing shareholders AP Moller Holding and Cargill.

ZeroNorth, founded in 2020 by CEO Søren Christian Meyer, developed software solutions that help the shipping industry cut emissions and reduce its impact on the climate whilst still maintaining commercial performance. The company says it works with a team of meteorologists, master mariners and ship operators and routing experts in order to produce advanced algorithms to ensure the best possible outcome for both decarbonisation and business success.