“Few people see the existing opportunities for disruption in the marine industry” according to Arturo Malave, CEO of Boatrax. Hive Hatch saw it and decided to enter the arena as an early investor in Boatrax’s Seed Round. Hive Hatch invests in passionate founders building disruptive technology in the earliest stages of their startup journey.
Miami-based Boatrax is developing an integrated digital and Internet of Things (IoT) platform to help recreational boaters optimize their time on the water. “We saw the opportunity to create a digital blueprint and log for everything going on in a boat automatically through IoT,” Malave said. The Boatrax “Brain” or platform collects information from the vessel and pushes this data to the app automatically through the cloud. Boatrax’s platform effectively pays for itself in various ways, including by monitoring and predicting when connected boats need to be serviced. The speed and granular detail of the data transmission is the basis on which Boatrax won for its remote monitoring device the first official NMEA 2000 certification – the industry’s standard of safety and reliability in marine electronics.
“We are pumped to be part of Boatrax and be on the exciting journey they are tackling” said Mike Rowan, managing partner of Hive Hatch, who added “leveraging IoT and the power of data with predictive analytics to boost the marine industry into the future makes a ton of sense and this is the right team to make it happen.” Gina Marrone, business development lead, expressed that “finally a great team with an awesome vision is shaking up a traditionally sleepy industry with state-of-the-art technology.”
About Hive Hatch
Hive Hatch is an early stage venture firm, investing in passionate founders at the earliest stages of their startup journey. Founding partners, Mike Rowan & Isaac Saldana have over 30 years experience in the startup technology ecosystem, and combined have founded and held executive leadership roles in nearly 20 companies from inception through IPO/Acquisition - most notably SendGrid and Techstars.
Boatrax, based in Miami, Fl. is a unique IoT platform connecting boat owners to their vessels in real-time by reading, storing, and transmitting data coming from the engine devices and sensors connected to the boat. Integrating across marine networks, Boatrax addresses all recreational market segments including existing boats, clubs and charter fleets, and manufacturers with an efficient solution designed to make boats smarter and boat ownership easier.