Pyxis Secures S$13 Million in First Close of Growth Funding Round, Signalling Strong Market Momentum for Maritime Electrification in Asia
- Pyxis secured S$13 million in the first close of its S$18 million growth funding round, reflecting strong investor confidence in its vessel technology, commercial traction, and regional growth strategy.
- Backed by climate-tech and venture funds, including Shift4Good and MotionVentures, family offices, MOL PLUS, the corporate venture capital arm of Mitsui O.S.K. Lines, and SEEDS, the investment arm of SG Growth Capital.
- Green financing from OCBC will enable Pyxis to scale its vessel deployment.
- Growth funding capital will expand Electra™'s capabilities as well as accelerate vessel manufacturing and the rollout of ultra-fast marine charging infrastructure across Asia.
- Pyxis signed a Heads of Agreement (HoA) with MOL (Asia Oceania) to explore the potential of establishing a joint venture company.
SINGAPORE - Media OutReach Newswire - 22 December 2025 - Pyxis, a leading Singapore-based maritime electrification startup, has secured S$13 million in the first close of its S$18 million growth funding round. The early close underscores rising investor conviction in Pyxis' technology and commercial progress, reinforced by continued support from Singapore government agencies such as the Maritime and Port Authority of Singapore (MPA) and SEEDS, which operates under SG Growth Capital, the investment platform of the Singapore Economic Development Board (EDB) and Enterprise Singapore.
Pyxis' fund raise comes at a time marked by an increased demand for electric vessels across Asia. The region operates more than 70,000 coastal and in-port vessels, while Singapore alone expects some 1,600 harbour crafts to transition to electric or low-carbon alternatives as part of the broader national goals.
Pyxis' electric vessels and energy systems address this need directly – reducing the total cost of ownership (TCO) by lowering both fuel and maintenance expenses, while significantly improving energy efficiency and cutting emissions.
Powered by Electra™, the company's proprietary energy and vessel management platform, Pyxis enables real-time monitoring, predictive maintenance, and fleet-level optimisation, improved reliability, and reduced downtime.
To date, the company has secured 17 orders for electric vessels across multiple customers in the region, including Singapore. Concurrently, Pyxis is developing a network of ultra-fast marine charging sites, with two charging locations deployed and additional sites planned in partnership with local stakeholders. An upcoming 300KW charger location will also be launched in Q1 2026. With these deployments, Pyxis is entering its strongest growth chapter since inception.
Strengthened by Equity, Green Financing and Regulatory Support
The financing round is backed by a strong coalition of climate-tech, venture capital, and maritime strategic investors, with follow-on commitments from Shift4Good, Motion Ventures, the world's largest maritime tech fund, and SG Growth Capital, underscoring the sustained confidence of Pyxis' long-term partners. It also includes participation from strategic backers including Mitsui O.S.K. Lines, one of the world's largest shipping companies, through its corporate venture capital arm, MOL PLUS.
The raise was catalysed by the Maritime and Port Authority of Singapore (MPA)'s Expression of Interest (EOI) for electric vessel financing, which was part of Singapore's broader maritime decarbonisation and innovation efforts to build an electric harbour craft ecosystem that supports early adopters of new electric solutions.
In addition to equity financing, Pyxis has secured green debt financing from OCBC, strengthening its capacity to scale vessel deployment and infrastructure development. This financing, to be channelled toward vessel capital expenditure, will provide capital flexibility essential for accelerating commercial rollout.
"Investor conviction in this round sends an unmistakable message: maritime electrification is accelerating, and Pyxis is leading that transition," said Tommy Phun, Founder and CEO of Pyxis. "The strength of this first close, anchored by strategic follow-on investments, validates the scalability of our technology and our ambition to build Asia's leading coastal electrification ecosystem."
"Two years ago, Pyxis was a bold vision with a great team behind it. Today, that vision is moving fast across the water: 17 vessels secured, charging infrastructure rolling out, Electra™ evolving into a true operating system for electric fleets, and international expansion underway," said Sebastien Guillard, Co-founder and Managing Partner of Shift4Good. Few companies execute with this clarity and pace. We're proud to back Pyxis again and support their rise as the leader of Asia's coastal electrification wave."
"SEEDS is proud to continue backing Pyxis, a fast-growing company with a capable team and strong strategic partnerships, together with our co-investment partner Shift4Good. We look forward to seeing Pyxis advance its solutions and contribute to the maritime electrification landscape in the region," said Tan Kaixin, General Manager of SEEDS.
Funding to Fast-Track 2026 Regional Expansion
The round's proceeds will power Pyxis' next phase of growth, including:
- Scaling Vessel Production: Increasing manufacturing capacity for the Pyxis One, Pyxis R and Pyxis L series to meet rising demand from Singapore, Japan and emerging ASEAN markets.
- Advancing the ElectraTM Smart Ecosystem: Deploying advanced IoT systems, predictive maintenance tools and vehicle-to-grid capabilities to enhance operational efficiency and energy resilience for operators.
- Expanding Ultra-Fast Marine Charging Infrastructure: Accelerating development of next-generation, high-capacity charging stations to support large-scale electric vessel operations across the region.
Earlier this year, the company launched Pyxis R, its next-generation solar-electric passenger ferry in Singapore as a real-world showcase of how clean vessels can transform urban coastal mobility and tourism experiences.
In November 2025, Pyxis signed a Heads of Agreement (HoA) with MOL (Asia Oceania) as an extension of the collaboration established under their 2023 Memorandum of Understanding (MoU). The HoA outlines the mutual understanding to jointly explore the feasibility of a joint venture company.
Pyxis is also expanding regionally through a strategic partnership with Utomodeck Group in Indonesia, supporting infrastructure build-out and electrification efforts across the world's largest archipelago.
Looking ahead, Pyxis will debut Pyxis L, its luxury-focused electric vessel variant, in early 2026. Designed for premium hospitality, private charters and elevated passenger experiences, Pyxis L will open high-value market segments across Asia.
Together, these achievements, alongside the strong investor support, position Pyxis as a key catalyst in Asia's transition toward cleaner, smarter, all-electric coastal transport.
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About Pyxis
Pyxis is a maritime electrification technology start-up with a mission to create a sustainable, greener maritime future. By easing mass commercialisation and adoption of electric coastal vessels, Pyxis accelerates maritime decarbonisation while elevating vessel performance and management. Led by maritime veterans and supported by leading coastal vessel owners and government agencies, Pyxis is positioned to drive transformation in key port segments of Singapore and sister-ports in the region.
