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Deep-clean submersible business secures first investment from Northern Powerhouse Investment Fund II in Cumbria

Press release 09 December 2024

A business that combats biofouling for the maritime industry has secured a £200,000 investment from NPIF II – Praetura Equity Finance, which is managed by Praetura as part of the Northern Powerhouse Investment Fund II.

A portrait of the team from Scrub Marine

ScrubMarine, which is based in Whitehaven, is also the first business in Cumbria to secure investment from NPIF II as part of Praetura’s PraeSeed programme for early-stage businesses in the North.

Biofouling is caused by the buildup of unwanted organisms, such as algae and barnacles, on the submerged surfaces of marine vessels. ScrubMarine’s technology aims to help the average container vessel save almost $40million in annual fuel costs, and approximately $88billion in global fuel savings from cleaning biofouling.

The business was launched in 2023 by co-founders Clyne Albertelli, and current CEO, Rohith Devanathan, with the aim of de-risking maritime maintenance using robotics. The business has created a submersible remotely operated vehicle (SROV) which uses a unique and advanced cavitation cleaning mechanism to remove biofouling from marine vessels.

ScrubMarine will use the investment to improve its hardware development by proving the efficacy of its cavitation system. Its SROV’s cavitation system uses a pressure washing effect that uses small bubbles and pressure differences to remove biofouling without damaging the ship’s preexisting biofouling coating.

The investment will also help the business create jobs for the business, including new roles in its marketing team, as well as supporting the hire of a new chief of staff, Hedda Friis. ScrubMarine will also use the investment to facilitate a move to a new workshop premises.

ScrubMarine took part in Praetura’s PraeSeed initiative, a cohort investment programme which aims to identify the most promising start ups in the North West and across the North of England and support them with equity finance alongside a ‘high growth’ educational course.

Through the 2024 PraeSeed cohort, 12 businesses attended a series of workshops delivered by late-stage founders and other experts to give information and advice on future planning, including fundraising and how to develop financial and go-to market strategies. At the end of the six-week programme, all businesses pitched for funding at a ‘investor meet and great’ event with other active funders in the region. Along with Scrubmarine, seven businesses were selected for equity investment from NPIFII.

Rohith Devanathan, co-founder and CEO at ScrubMarine, said: 

Having access to this finance has allowed us to bring our SROV to life, creating a product that will help tackle a cost-intensive problem for the maritime industry. Alongside the investment, the team at Praetura has been excellent in providing us with tailored advice that will help take our company to the next level. Our business is at an important stage, and with this investment from the Northern Powerhouse Investment Fund II, we’ll now be able to put in place the foundations for a future raise and continued growth.

Jessica Jackson, Investment Manager at Praetura Ventures and PraeSeed lead, said:

We are incredibly impressed with ScrubMarine’s vision and what the team have built so far, especially in a sector that’s as vital to the UK and global economy as maritime. The company truly stood out for us among the 200 applications we received for PraeSeed this year, and we are looking forward to seeing the impact this investment from the Northern Powerhouse Investment Fund II will have on the business and its team going forward.

Simon Cunnington, Director at the British Business Bank, said: 

Cumbria is home to many exciting businesses and this investment shows how the Northern Powerhouse Investment Fund II can help companies across the region access the funding they need to grow. Not only is it creating new jobs, but it looks set to disrupt and play a valuable role in a global industry firmly placing the North West on the map for innovation.

The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

ScrubMarine was advised by Kelly Clarke, legal director, and Jennifer Murphy, senior associate, both in the corporate team at TLT LLP. A team from Irwin Mitchell LLP, led by partner Adam Kaucher, acted on behalf of Praetura Ventures and supported the legal framework for the programme.

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Notes to editors

About ScrubMarine

ScrubMarine offers an innovative and sustainable approach to maritime maintenance through advanced robotic technology, supporting the operational and environmental goals of today’s shipping industry. By reducing fuel consumption, maintenance costs, and regulatory risks, ScrubMarine enables operators to manage biofouling responsibly and efficiently.

Biofouling, the buildup of marine organisms on hull surfaces, increases fuel costs and emissions, creating significant challenges for shipping companies. ScrubMarine’s robotic technology, featuring a unique cavitation cleaning system, removes biofouling without chemicals, dry-docking, or diver intervention. This approach helps the maritime industry balance performance with environmental standards, de-risking maintenance for cleaner and safer oceans.

About PraeSeed

PraeSeed is an early-stage investment programme that focuses on deploying equity investment into early-stage businesses in the North to help fill a known funding gap in “preseed” or pre-revenue businesses. Launched in March 2024, with the first-ever cohort starting in June that year, PraeSeed initially welcomed 12 businesses for a series of workshops, mentoring sessions and support from Praetura Ventures’ investment team, external experts and existing founders, with the aim of improving investor readiness among the businesses involved. The programme is funded by NPIF II – Equity North West, which is managed by Praetura as part of the Northern Powerhouse Investment Fund II, and aims to invest over £6m into 35 start-up businesses over the next five years. Find out more here - praeturaventures.com/praeseed.

About Praetura Ventures

Praetura Ventures is a Manchester-based venture capital firm which invests in early-stage, high-growth businesses across the UK, with a particular focus on supporting entrepreneurs across the North of England.          

Praetura Ventures is committed to adding value post-investment and providing the ‘more than money’ support that businesses need to grow, including additional expertise, resources, networks and guidance, to its investee companies.        

Since 2019, Praetura Ventures has backed 45 companies, including North West headquartered businesses Culture Shift, AccessPay and Peak. The business has now grown to over £260m AUM and recently won the Northern Powerhouse Investment Fund II mandate for the £100m fund dedicated to equity in the North West of England.

Learn more at praeturaventures.com      

About the Northern Powerhouse Investment Fund II

  • Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding.  NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the North’s smaller businesses at all stages of their development.
  • The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, City of Kingston upon Hull, East Riding of Yorkshire, North Yorkshire, South Yorkshire, West Yorkshire, Hartlepool and Stockton-on-Tees, South Teesside, Darlington, Durham, Northumberland, Tyneside, Sunderland.

Smaller Loans from £25,000 to £100,000 – GC Business Finance & River Capital (North West), Business Enterprise Fund (BEF) (Yorkshire and Humber) and NEL Fund Managers (North East)

Business Loans from £100,000 to £2m – FW Capital (North West), Mercia (Yorkshire and Humber) and NEL Fund Managers (North East)

Equity Finance up to £5m – Prateura Ventures (North West), Mercia (Yorkshire and Humber), and Maven Capital Partners (North East) 

Applications for funding are made directly to the relevant fund managers who can be contacted via the NPIF II webpages - northernpowerhouseinvestment fund.co.uk.

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