Pyxis secures $10m to develop electric maritime vessels
This highlights investor confidence in the startup’s EV technology.
Pyxis has partially closed $10m (S$13m) of their $13.9m (S$18m) growth funding round, highlighting rising investor conviction in the startup’s technology and commercial progress.
The startup is supported by various Singapore government agencies, climate-tech investors, and venture funds.
The fundraising round is due to the increasing demand for electric vessels across Asia, where 70,000 coastal and in-port vessels are currently in operation, with Singapore alone having 1,600 harbour crafts to transition to electric or low-carbon alternatives as part of the broader national goals.
Pyxis’ electric vessels will reduce the total cost of ownership by cutting fuel and maintenance costs, whilst improving energy efficiency and lessening emissions.
The growth funding will accelerate Electra™'s capabilities, vessel manufacturing, rollout of ultra-fast marine charging infrastructure across Asia.
It also enables real-time monitoring, predictive maintenance, fleet-level optimisation, improved reliability, and reduced downtime.
To date, 17 orders have been placed for the electric vessels across Asia, with two charging locations deployed and additional sites planned in partnership with local stakeholders. A 300-KW charger location will also be launched in Q1 2026.
Green financing from Oversea-Chinese Banking Corp. Ltd. (OCBC) will enable Pyxis to scale its vessel deployment, which will be allocated to vessel capital expenditure, and will provide capital flexibility essential for accelerating commercial rollout.
The startup signed a Heads of Agreement (HoA) with Mitsui O.S.K. Lines, Ltd. (Asia Oceania), extending their 2023 Memorandum of Understanding to jointly explore the feasibility of a joint venture.
Pyxis will also debut Pyxis L, its luxury-focused electric vessel variant, in early 2026. It is designed for premium hospitality, private charters and elevated passenger experiences.
“Investor conviction in this round sends an unmistakable message: maritime electrification is accelerating, and Pyxis is leading that transition,” said Tommy Phun, Founder and CEO of Pyxis.
S$1 = U$0.77
