Cetasol
Cetasol is a Swedish maritime technology company that sells the iHelm SaaS platform and patented CetaFuel virtual flowmeter to commercial fleet operators, using AI-driven digital twins to optimize fuel consumption, automate emissions compliance, and reduce operating costs.
- Company typePrivate
- Founded2020
- HeadquartersGothenburg, Sweden
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Cetasol does
Cetasol is a Swedish maritime technology company founded in 2020 in Gothenburg by Ethan Faghani, a mechatronics engineer and former Chief Engineer of Automation & AI at Volvo Penta. The company develops iHelm, an AI-powered vessel performance management platform that combines real-time engine monitoring, digital twin modelling, and predictive analytics to deliver fuel optimization recommendations and automated regulatory compliance reporting (EU MRV, IMO DCS, CII, EEXI) for commercial maritime fleet operators. The patented CetaFuel virtual mass flowmeter is a complementary product that produces 97-99.5% accurate fuel consumption data using ECU-based physics models, validated against Volvo Penta, Scania, and MAN engines, without physical flowmeters in the fuel line. The platform is complemented by the CetaAI recommendation engine, a Captain Display onboard interface, and a Cloud Dashboard for fleet-wide benchmarking.
Cetasol operates a subscription SaaS model sold primarily through enterprise direct sales with a demo-driven, quote-based pricing process negotiated on a per-fleet basis. The company serves ferry, tug, crew transfer vessel (CTV), merchant, pilot boat, and fishing operators globally, with 200+ vessels deployed across 45+ customers in 15+ countries spanning Europe, Asia-Pacific, and North America. Named customers include Aesen, Erik Thun, Brim Explorer, Stromma, Alilauro, Norled, Svitzer, PSA Marine, MHO-Co, Bergen Tankers, MF Shipping Group, and the Swedish Maritime Administration (Sjöfartsverket). Distribution is augmented by an OEM integration with Furuno Sweden and regional channel partners in Norway, Estonia, and Australia.
The company is privately held and has raised approximately €4.3M across two seed rounds (€2M in April 2024 and €2.3M in September 2025) from Sarsia, BackingMinds, Shift4Good, ShipsFocus, and Impact X Capital, with early backing from Volvo Penta and Gothenburg-based tech investors. Cetasol employs 30+ people, more than half of whom are software developers and data scientists, and operates offices in Gothenburg, Vancouver, and Singapore.
Cetasol firmographics
Firmographics- Name
- Cetasol
- Legal name
- Cetasol
- Website
- https://cetasol.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cetasol is a Swedish maritime technology company that sells the iHelm SaaS platform and patented CetaFuel virtual flowmeter to commercial fleet operators, using AI-driven digital twins to optimize fuel consumption, automate emissions compliance, and reduce operating costs.
- Ownership category
- akta.pro rank
Cetasol industry classification
Industry- Product category
- Maritime Fleet Management Software
- NAICS
- Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables (334513), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Support Activities for Water Transportation (4883)
- SIC
- Industrial Instruments For Measurement, Display, And Control (3823), Totalizing Fluid Meters & Counting Devices (3824), Water Transportation (4400)
- akta.pro primary industry
- Fuel, Idling & Emissions/Carbon Analytics (TLABAJAF)
- akta.pro secondary industry
- Propulsion Control, Monitoring & Automation (ECS, PMS interface) (IMAJAHAH)
Keywords
Where Cetasol is headquartered
LocationHeadquarters
- HQ city
- Gothenburg
- HQ country
- Sweden
- HQ region
- Europe
Offices3 records
Markets served
Cetasol business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Software Subscriptions (iHelm & CetaFuel): Recurring software subscription model for access to the iHelm platform and CetaFuel virtual sensor technology. Customers pay for vessel monitoring, fuel analytics, compliance reporting, and AI-driven decision support on a subscription basis. The platform supports fleet-wide deployment with per-vessel or fleet-level pricing.
- Platform Add-ons & Modules: Additional revenue from specialized modules such as CetaAI decision support, digital twin modeling capabilities, and advanced compliance reporting features that extend the core platform's functionality for enterprise customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise fleet subscription with demo-driven sales process |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Cetasol product offering
Product offeringCore offering
Cetasol develops and sells an AI-powered maritime vessel performance management platform (iHelm) that combines real-time engine and fuel monitoring, digital twin modeling, predictive analytics, and automated regulatory reporting (EU MRV, IMO DCS, CII, EEXI) for commercial fleet operators. The platform is complemented by CetaFuel, a patented virtual mass flowmeter that measures fuel consumption at 97-99.5% accuracy using physics-based engine models without requiring physical fuel sensors. The company's primary customers are ferry, tug, CTV, merchant, fishing, and pilot boat fleet operators across Europe, North America, and Asia-Pacific.
Product overview
Cetasol offers a unified maritime monitoring and analytics platform consisting of two core products: iHelm (AI-powered vessel performance management platform) and CetaFuel (virtual mass flowmeter). iHelm serves as the central platform providing real-time decision support through Captain Display (onboard) and Cloud Dashboard (shore-based), powered by CetaAI recommendation engine and Digital Twin Modelling technology. CetaFuel is a complementary patented virtual fuel sensor technology that works alongside iHelm to provide accurate fuel consumption data without hardware installation. The platform supports compliance with maritime regulations (EU MRV, IMO DCS, CII, EEXI) through automated reporting features including Trip Log and Emission Report 2.0.
Differentiator
Problem solved
Functional benefit
Brands
- iHelm: AI-powered vessel performance management and decision-support platform that connects engine data, fuel analytics, and operational insights to help fleet managers reduce costs, improve safety, and meet compliance requirements.
- CetaFuel
- Ceta AI
- Captain Display
Products and services
- iHelm AI-powered vessel performance management platform that connects engine data, fuel analytics, and operational insights into one system, providing real-time decision support for captains and fleet-wide visibility for fleet managers. Supports automated compliance reporting for EU MRV, IMO DCS, CII, and EEXI regulations.
- CetaFuel Patented virtual mass flowmeter technology delivering 97-99.5% fuel measurement accuracy using physics-based digital twin models of engine fuel behavior (RPM, pressures, temperatures), without requiring physical flowmeters or fuel line installation. Validated against Volvo Penta (99.5%), Scania (99.2%), and MAN engines (97.8%). Achieves 90% CAPEX savings versus traditional fuel flowmeter installations.
- Ceta AI Custom AI agent designed to help maritime operators analyze complex operational data, generate actionable insights, proactively identify patterns, deviations, and improvement opportunities, and continuously learn from customer-specific data and interactions.
Quantifiable outcome
- 10-25% fuel savings for small to mid-sized vessels
- +7 more outcomes
Companies that use Cetasol
Customer profileNamed customers13 records
Segments6 records
Ideal customer profiles5 records
Cetasol technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability5 records
Feature6 records
Cetasol partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Swedish Energy AgencycoreFunding partner for Nordic MiL multi-national project to create an open, user-friendly simulation platform for testing maritime vessels, operations, and energy systems. Part of €3M+ active innovation project portfolio.
- VinnovacoreSwedish Innovation Agency providing support for AI platform development and maritime sustainability innovation. Previously supported scaling of iHelm AI platform for sustainable marine operations targeting 10-35% CO2 emission reduction.
- Future MobilityminorInnovation ecosystem partner collaborating on fuel optimization, vessel performance monitoring, and decision-support systems development.
- Furuno SwedencoreDistribution partnership to expand iHelm distribution. Collaboration integrates iHelm into Furuno's display systems, enhancing fuel savings, operational efficiency, and sustainability for maritime operators using Furuno navigation equipment.
- Workboats ConsultingminorPartnership to enhance maritime excellence and bring advanced solutions to the Estonian shipping sector.
- EligroupminorPartnership to advance maritime sustainability and bring eco-friendly solutions to shipping through collaborative technology development.
- Maritime ImpulseminorPartnership to bring innovative marine solutions and drive shipping sustainability in Australia (expansion partnership).
- Maritime Management ASminorPartnership to boost iHelm adoption in Norway through localized distribution and customer support.
Scale indicators14 records
Recent moves7 records
Expansion highlights6 records
Cetasol competitors and assessment
Company assessmentDirect peers
- Nautilus Labs: Nautilus Labs is an AI-powered maritime fleet performance optimization platform that helps shipowners measure, monitor, and reduce vessel fuel consumption and emissions. Directly comparable to Cetasol's iHelm platform in targeting similar fleet segments (tankers, bulk carriers) with subscription-based SaaS analytics.
- ZeroNorth: ZeroNorth is a vessel optimization and decarbonization platform serving the maritime industry with voyage optimization, vessel performance, and emissions reporting tools. Closely aligned with Cetasol's offering in combining AI-driven fuel optimization with compliance reporting (similar to iHelm + CetaFuel bundle).
- StormGeo: StormGeo provides weather routing, vessel performance monitoring, and emissions optimization solutions for the maritime industry. Competitor in the fleet optimization and fuel savings space with comparable software-first delivery model serving merchant and offshore segments.
Broad incumbents
- Wärtsilä: Wärtsilä is a global marine technology leader offering SmartShip and Smart Vessel ecosystem that includes fuel optimization, route planning, and condition monitoring as part of its broader engine and propulsion portfolio. Broad incumbent with overlapping vessel optimization capabilities but as part of a much larger hardware-software-services offering.
- ABB Marine & Ports: ABB Marine provides vessel advisory systems, ABB Ability Marine Pilot, and integrated automation for the maritime industry. Established incumbent with overlapping vessel performance monitoring capabilities but offering a broader portfolio of marine propulsion and automation hardware.
- Veracity (DNV): Veracity is DNV's maritime data platform offering vessel analytics, emissions reporting, and compliance services. Established incumbent with comparable compliance and performance analytics capabilities, leveraging DNV's classification society relationships with major fleet operators.
Emerging players
- Klaveness Digital: Klaveness Digital is a maritime data and analytics company offering vessel performance monitoring and fuel consumption insights for fleet operators. Emerging player with similar SaaS approach and vessel optimization focus but with stronger concentration in dry cargo and tonnage markets.
- Kpler: Kpler provides maritime data, analytics, and tracking solutions covering vessel movements, commodity flows, and emissions insights. Emerging player with adjacent capabilities in maritime data analytics, particularly strong in commodity trading flows that intersect with vessel performance.
- BunkerMetric: BunkerMetric provides bunker fuel optimization and procurement analytics for shipping operators, focusing on fuel price analysis and procurement decision support. Emerging player with narrower fuel-focused scope compared to Cetasol's broader fleet performance platform.
Others
- Ocean Technologies Group: Ocean Technologies Group provides maritime digital solutions including crew training, operational procedures, and fleet management software. Adjacent player serving similar maritime fleet customers with overlapping themes in operational efficiency, though focused on crew competency rather than fuel optimization.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Cetasol social profiles
Digital presenceCetasol compliance and trust
Trust signalCompliance4 records
Cetasol financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cetasol leadership team
Management profileNumber of profiles
Profiles5 records
Cetasol subsidiaries and ownership
Company hierarchySubsidiaries2 records
Cetasol funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cetasol M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cetasol
What does Cetasol do?
Cetasol develops and sells an AI-powered maritime vessel performance management platform (iHelm) that combines real-time engine and fuel monitoring, digital twin modeling, predictive analytics, and automated regulatory reporting (EU MRV, IMO DCS, CII, EEXI) for commercial fleet operators. The platform is complemented by CetaFuel, a patented virtual mass flowmeter that measures fuel consumption at 97-99.5% accuracy using physics-based engine models without requiring physical fuel sensors. The company's primary customers are ferry, tug, CTV, merchant, fishing, and pilot boat fleet operators across Europe, North America, and Asia-Pacific.
Is Cetasol a public or private company?
Cetasol is a private company. It is classified as venture growth investor backed and is currently operating.
When was Cetasol founded?
Cetasol was founded in 2020. It employs 11 to 50 people.
Where is Cetasol based?
Cetasol is headquartered in Gothenburg, Sweden, in the Europe region.
How does Cetasol make money?
Two revenue lines are on record. Software Subscriptions (iHelm & CetaFuel) is the primary driver. The others are platform Add-ons & Modules.
Who are Cetasol's main competitors?
Direct peers on record are Nautilus Labs, ZeroNorth and StormGeo. Broad incumbents are Wärtsilä, ABB Marine & Ports and Veracity (DNV). Emerging players are Klaveness Digital, Kpler and BunkerMetric. Ocean Technologies Group is listed as an others.
Does Cetasol have an API?
No public API is recorded for Cetasol.
What industry is Cetasol in?
Cetasol's product category is Maritime Fleet Management Software. Its primary akta.pro industry code is TLABAJAF, Fuel, Idling & Emissions/Carbon Analytics, with a secondary code of IMAJAHAH, Propulsion Control, Monitoring & Automation (ECS, PMS interface). Its NAICS code is 334513 and its SIC code is 3823.