Local venture capital funds OIF Ventures and King River Capital have backed a $NZ23 million ($21 million) funding round by a tech start-up that uses artificial intelligence to analyse shipping data to detect illegal activity ranging from drug-trafficking to espionage.
The New Zealand-based company, Starboard Maritime Intelligence, is valued at $NZ53 million on the back of the fresh capital raising, which also included Auckland-based firm Altered Capital as a lead investor.
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