Singapore’s Pyxis secures $10M in growth funding round to accelerate Asia’s maritime electrification

Pyxis, a Singapore-based maritime electrification startup, has secured S$13 million ($10.06 million) in the first close of its S$18 million ($13.94 million) growth funding round. The firm said in a statement on Wednesday 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 catalyzed 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 decarbonization and innovation efforts to build an electric harbor 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 channeled toward vessel capital expenditure, will provide capital flexibility essential for accelerating commercial rollout. The round’s proceeds will power Pyxis’ next phase of growth, including scaling vessel production; advancing the Electra smart ecosystem and expanding ultra-fast marine charging infrastructure. The firm is increasing manufacturing capacity for the Pyxis One, Pyxis R and Pyxis L series to meet rising demand from Singapore, Japan and emerging ASEAN markets. It is also deploying advanced internet of things (IoT) systems, predictive maintenance tools and vehicle-to-grid capabilities to enhance operational efficiency and energy resilience for operators. It is also accelerating development of next-generation, high-capacity charging stations to support large-scale electric vessel operations across the region. 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 the first quarter of 2026. With these deployments, Pyxis is entering its strongest growth chapter since inception. Looking ahead, Pyxis will also 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. “Investor conviction in this round sends an unmistakable message: maritime electrification is accelerating, and Pyxis is leading that transition, “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,” said Tommy Phun, Founder and Chief Executive Officer of Pyxis. According to the statement, 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 harbor 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 optimization, improved reliability and reduced downtime. To date, the company has secured 17 orders for electric vessels across multiple customers in the region, including Singapore. “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. Tan Kaixin, General Manager of SEED also said the firm looks forward to seeing Pyxis advance its solutions and contribute to the maritime electrification landscape in the region. Earlier this year, Pyxis 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, the firm signed a heads of agreement with MOL (Asia Oceania) as an extension of the collaboration established under their 2023 memorandum of understanding. 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. Yinson GreenTech’s marinEV collaborates with Toll Group to launch Singapore’s first decabonization hub