- The round is backed by Shift4Good, Motion Ventures, SG Growth Capital & Mol Plus
- Proceeds will be channelled towards scaling vessel production and advancing the Electra™ ecosystem
Pyxis, a Singapore-based maritime electrification startup, has secured US$10 million (RM41 million) in the first close of its US$14 million (RM57 million) growth funding round, underscoring rising investor confidence in its technology and commercial traction.
In a statement, the company said the early close reflects growing demand for electric vessels across Asia, alongside continued support from Singapore government agencies, including the Maritime and Port Authority of Singapore (MPA) and Seeds, under SG Growth Capital, the investment platform of the Singapore Economic Development Board (EDB) and Enterprise Singapore.
Pyxis noted that Asia operates more than 70,000 coastal and in-port vessels, while Singapore alone expects 1,600 harbour craft to transition to electric or low-carbon alternatives as part of its national decarbonisation goals. Electric vessels address this shift by lowering total cost of ownership through reduced fuel and maintenance costs, improving energy efficiency and cutting emissions.
Powered by Electra™, Pyxis’ proprietary energy and vessel management platform, the company enables real-time monitoring, predictive maintenance and fleet-level optimisation to improve reliability and reduce downtime.
To date, Pyxis claims to have secured 17 electric vessel orders across multiple customers in the region, including Singapore. Concurrently, it is developing a network of ultra-fast marine charging infrastructure, with two sites already deployed and additional locations planned with local partners. A 300kW charging site is scheduled to launch in Q1 2026.
With these deployments, the company claims it is entering its strongest growth chapter since inception.
The financing round is backed by climate-tech, venture capital and maritime strategic investors, with follow-on commitments from Shift4Good, Motion Ventures, the largest maritime tech fund, and SG Growth Capital. Strategic participation also includes Mitsui O.S.K. Lines, through its corporate venture capital arm, Mol Plus.
The raise was catalysed by the Maritime and Port Authority of Singapore’s Expression of Interest for electric vessel financing, part of Singapore’s broader push to build a scalable electric harbour craft ecosystem. In addition to equity funding, Pyxis has secured green debt financing from OCBC, providing added flexibility to scale vessel deployment and infrastructure development. This financing, to be channelled towards vessel capital expenditure, will provide the capital flexibility essential for accelerating commercial rollout.
“Investor conviction in this round sends a clear message: maritime electrification is accelerating, and Pyxis is helping lead that transition,” said Tommy Phun, founder and ceo of Pyxis. “The strength of this first close validates both the scalability of our technology and our ambition to build Asia’s leading coastal electrification ecosystem.”
“Two years ago, Pyxis was a bold vision; today, it’s moving fast across the water with 17 vessels secured, charging infrastructure rolling out, Electra™ evolving into a fleet operating system, and international expansion underway. Few companies execute with this clarity and pace, and we’re proud to back Pyxis again as it leads Asia’s coastal electrification wave,” said Sebastien Guillard, co-founder and managing partner of Shift4Good.
Meanwhile, Tan Kaixin, general manager of Seeds, said, “We are proud to continue backing Pyxis and look forward to seeing them advance solutions that shape the region’s maritime electrification landscape.”
Proceeds from the round will support Pyxis’ next growth phase, including:
- Scaling vessel production to meet demand across Singapore, Japan and emerging Asean markets
- Advancing the Electra™ ecosystem with enhanced IoT, predictive maintenance and vehicle-to-grid capabilities
- Expanding ultra-fast marine charging infrastructure to support large-scale electric vessel operations
Earlier this year, Pyxis launched Pyxis R, its next-generation solar-electric passenger ferry, in Singapore. The company is also expanding regionally through a strategic partnership with Utomodeck Group in Indonesia and plans to debut Pyxis L, its luxury electric vessel variant, in early 2026.
