Redstone Raises €25 Million for Ocean Tech Fund to Back Blue Economy Startups

Oceans cover 70% of the Earth's surface, yet many sectors that rely on them have remained largely unchanged for decades. Early-stage venture capital firm Redstone has raised €25 million for Redstone Blue, a fund dedicated to backing startups that aim to modernize ocean industries for the benefit of cleaner, smarter, and more efficient operations.

The focus of Redstone Blue is to invest in companies operating in four key areas: cleaner shipping and ports, ocean energy and infrastructure, ocean data and monitoring, and blue biotechnology and water technology.

Redstone Blue, co-led by Klas Johansen and Tuomo Veivo, who joined the company last year to spearhead its blue economy strategy, is seeking startups from the pre-seed to Series A stages. The fund launched in 2025, but this €25 million is the first substantial portion of funding it has secured. It is co-led with Kaj Hagros, Redstone's managing partner for the Nordics.

Potential investors in Redstone Blue include the City of Turku in Finland, Meriaura Invest, Aboa Advest, LähiTapiola, Kelonia, Rausanne, Adamo Capital – Founders Family Office, Henrik Paasikivi, Magnus Kihlgren, and ARGOng Investment AG, among others. Rather than chasing a broad range of ocean-related ventures, Redstone Blue's primary focus areas include cleaner shipping and ports, ocean energy and infrastructure, ocean data and monitoring, and blue biotechnology and water technology.

The venture capital firm believes that companies that modernize old industries and make them both profitable and sustainable have the potential to dominate future markets. However, investing in ocean startups presents several challenges. The ocean environment is harsh, making it difficult for technologies developed in controlled settings to perform reliably in real-world conditions.

Sales cycles can be lengthy, as ports, shipping companies, and governments may require extensive testing and evidence of technology effectiveness before adopting new solutions. Furthermore, scaling a successful startup often requires navigating various regulations, languages, and partners, which can be a complex and time-consuming process.

Finally, the lengthy payback periods of many ocean tech investments are at odds with the typical VC investment horizon of 5-7 years. Redstone Blue has only secured its first €25 million in funding, but the team plans to raise additional capital to support its full fund. The firm's objective is to identify and invest in early-stage companies within their four key focus areas, with the hope that these innovations will later dominate the market.