The Series B funding round was led by Ferd Venture, the venture capital arm of Norwegian financial services group Ferd. Other participants include Conor Venture Partners, a Finnish technology-focused investor which led Eniram’s Series A funding round in March 2008, and government-owned Finnish Industry Investment.

The funding will enable Eniram to accelerate distribution of its flagship product, which aims to help officers optimise the distribution of load in a ship, minimise water resistance and decrease fuel consumption.

Henrik Dahl, MD of Eniram, says the investment allows the company to ‘look further ahead’ and hire staff in software development, sales and support roles.

Adds Dahl, ‘We’re currently working on building a network of sales agents in key market areas, aiming to expand our customer base from our first target group of cruise line operators to freight carriers.’