Issue #41: Robots Save Oceans

Ulysses: The Robot Bringing Life Back to Ocean Floors

In a world where marine ecosystems are rapidly declining, a San Francisco startup is deploying autonomous robots to restore vital seagrass meadows. Ulysses Ecosystem Engineering, emerging from stealth with $2 million in pre-seed funding, is revolutionizing ocean restoration with technology that could speed up seagrass planting by 100x.

Key Points:

• Raised $2M pre-seed led by Lowercarbon Capital

• Developed autonomous underwater robots for seagrass restoration

• Achieved nearly $1M in revenue from government and private contracts

• Demonstrated 100x faster planting compared to manual methods

• Secured partnerships with agencies in Florida and Australia

"None of us are marine biologists," says CEO Akhil Voorakkara, highlighting how the team's robotics expertise led them to tackle this environmental challenge. "You won't get anything unless you ask and we did ask for help and advice very early on in our journey to the top people working in seagrass restoration."

The startup's potential impact is significant. Seagrass occupies just 0.1% of the ocean floor but plays a crucial role in supporting marine ecosystems, filtering water, and capturing carbon. With global seagrass meadows declining by 7% annually, Ulysses' technology could be a game-changer for ocean restoration efforts.

The timing couldn't be better. With the EU's recent regulation focusing on habitat restoration by 2030 and increasing global emphasis on marine conservation, Ulysses is well-positioned to expand beyond seagrass into broader coastal management and security applications.

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Quick Bites

🌞 Glint Solar Raises $8M for Solar Site Planning:

👶 Nodal Secures $4M to Revolutionize Surrogacy:

📊 Dash0 Launches with $9.5M to Tackle Observability Costs:

Vocabulary

💡Each edition we’ll bring you a new “Startup word” to help bolster your vocabulary and understanding of the subject!

Autonomous: adjective /ôˈtänəməs/

Definition: Self-governing; operating independently without human input or control.

Why It Matters: In the startup world, autonomous technology represents a key frontier in scaling operations and reducing human intervention in repetitive or dangerous tasks.

In Action: Ulysses' autonomous underwater robots demonstrate how self-operating systems can tackle environmental challenges more efficiently than traditional manual methods, operating independently in challenging marine environments.

Startup Shutdown Of The Day :(

Lilium: When Electric Dreams Hit Turbulence

German eVTOL startup Lilium is filing for insolvency after failing to secure crucial government funding, marking a dramatic end for a company that had raised over $1 billion and gone public via SPAC.

Key Points:

• Failed to secure €50M government guarantee for €100M convertible loan

• Had raised over $1B and went public via SPAC in 2021

• Recently powered up first full-scale prototype

• Secured orders for 100 electric jets from Saudi Arabia

• Burning through cash while years away from product delivery

Lilium's journey highlights the immense challenges facing hardware startups in capital-intensive industries. Despite impressive technological progress and high-profile customer commitments, the company struggled with the lengthy development timelines and massive capital requirements inherent in aircraft development.

The shutdown raises important questions about the viability of SPAC-backed hardware companies and the role of government support in deep tech innovation. Could a different funding structure or development timeline have led to a different outcome? How will this impact investor confidence in the broader eVTOL sector?