Singapore’s Pyxis Closes $10M Growth Funding for Maritime Electrification
- ByStartupStory | December 17, 2025
Singapore-based maritime electrification startup Pyxis has secured $10 million in the first close of its $13.9 million growth funding round, targeting accelerated deployment of electric vessels across Asia amid tightening decarbonization mandates.
Funding Details and Backers
The oversubscribed round brings follow-on investments from existing supporters Shift4Good, Motion Ventures—the world’s largest maritime tech fund—and SG Growth Capital’s SEEDS arm, alongside new climate-tech and strategic maritime players. Pyxis also landed green debt financing from OCBC Bank to bolster vessel capex and charging infrastructure rollout. Previously, the firm raised S$4.5 million in seed funding in 2024, co-led by Motion Ventures and Shift4Good, pushing total capital to over $16 million.
Founded in 2022 by maritime veteran Tommy Phun, Pyxis offers a one-stop electrification solution for harbor crafts, slashing fuel and maintenance costs while enabling real-time fleet optimization via its proprietary Electra platform.
Scaling Amid Regional Demand Surge
Proceeds will ramp vessel production, advance the Electra energy management system for predictive maintenance, and expand ultra-fast marine charging networks. Pyxis has locked in 17 electric vessel orders across regional customers, capitalizing on Singapore’s Maritime and Port Authority (MPA) rules mandating all new harbor crafts electric, biofuel-compatible, or net-zero ready by 2030—with full fleet net-zero by 2050.
Asia operates over 70,000 coastal and in-port vessels ripe for electrification, where battery range limitations pose minimal hurdles. Pyxis’ retrofittable tech targets this by lowering total ownership costs and emissions without massive upfront spends.
Strategic Momentum and Partnerships
The raise underscores investor bets on Pyxis bridging maritime’s green pivot, with partnerships like Mitsui O.S.K. Lines (MOL) for electric vessel development in Singapore and Japan. CEO Phun highlighted the funding’s role in fulfilling order backlogs and hitting net-zero ahead of timelines.
As coastal electrification gains traction—from Singapore’s 1,600 harbor crafts to broader ASEAN ports—Pyxis positions as a scalability leader, blending hardware, software, and financing to drive commercial adoption in a $100 billion+ sector.
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