Marine product maker EPropulsion, which was founded by a HKUST graduate, will soon launch a 4K resolution subsea drone camera.
EPropulsion Innovation, a marine product maker founded by a graduate of Hong Kong University of Science and Technology (HKUST), obtained $10m today in a round backed by VC fund Beyond Ventures.
The deal also included Brizan Investments, a vehicle co-founded by Ping Ko, one of HKUST School of Engineering’s former deans.
Founded in 2012, ePropulsion’s core business lies in electric propulsion kits for water sports vessels such as canoes, fishing boats and racing yachts. The company is banking on anticipated rising demand for electric propulsion in the marine sector.
EPropulsion is also diversifying with the release of a subsea drone camera that shoots at 4K resolution. It will use the cash to push ahead with the drone’s manufacturing, sales, marketing and distribution.
EPropulsion Innovation is led by chief executive Danny Tao, who received a master of philosophy in Electrical and Electronics Engineering from HKUST in 2015. The company has not disclosed funding previously.
Tao said: “Visuals and data captured by our newly-launched underwater drone will transform the world’s understanding of our oceans, while delivering insights into issues such as fish populations, acidification and climate change – matters that will affect every single person on the planet.”
