Iqnautics kicks off first funding round

Dutch startup Iqnautics has announced the launch of its first funding round to build out its product with additional features.

Iqnautics is developing digital tools that automate processes within the yacht charter sector, aimed at enhancing efficiency. After officially launching at the International Charter Expo (ICE) in Zagreb and with a long-term goal of becoming a data-driven company, the firm is now looking for an €800,000 investment.

Iqnautics says the plan is to develop payment integrations, microservices with transactions, and third-party integrations. The funding will also be used for further marketing costs to drive customer acquisition.

Iqnautics says it aims to ‘drive digital transformation throughout an industry which still relies on antiquated and manual processes through clunky email chains, radios and even paper.’

The firm says while recent years have seen a push toward digitalisation in the industry, there is still a need for more maritime-specific tools across the yacht charter industry, forecasted to grow to US$26 billion by 2026.

There are three products within the Iqnautics platform. The first is for base and customer operations and includes features such as digitising documents and the charter preparation processes. The second product focuses on the maintenance and management processes through digital logs and smart task allocation. The third is focused on revenue optimisation and includes a smart calendar for bookings, discount optimisers and integrations with third-party booking platforms, such as MML Booking Manager and Nausys.

The Iqnautics charter management system aims to improve operations, reduce costs and increase profitability for companies by providing a solution for a ’50 per cent faster’ charter process. The goal is to reduce average waiting times for customers in marinas, improve customer communication and document change, and ensure efficient safety induction and training.

The platform starts at €19,99/month/yacht, with an option for larger fleets on sliding pricing scales dependent on requirements.

Commenting on the round, CEO Catalin Ioan Bulareanu says: “The yacht charter industry is growing, and growth always comes with a new set of challenges. The only viable way forward for the industry is to adopt digital tools.

“At IQNautics, we’re committed to building those tools. Our approach is customer-centric development, which means our products are intuitive, easy to use and solve real challenges. With this new round of funding, we’re ready to take IQNautics to the next level and build on our success to date.”