Pyxis Raises US$10 Million in First Close to Scale Electric Vessels and Charging Network in Asia

Key facts

• Pyxis has secured US$10 million in the first close of a growth funding round
• Funding to support electric vessel production, software development and marine charging infrastructure
• Investors include Shift4Good, Motion Ventures, MOL PLUS and SG Growth Capital’s SEEDS
• Green debt financing provided by OCBC

Overview
Singapore-based maritime electrification company Pyxis has raised US$10 million in the first close of its growth funding round. The capital will be used to scale electric vessel manufacturing, further develop the company’s energy management platform, and expand its marine charging network across Asia.

The funding comes as demand increases for low- and zero-emission solutions for coastal and harbour craft operations in the region.

Investors and financing structure
The round attracted a group of climate-tech and maritime-focused investors, including Shift4Good, Motion Ventures and MOL PLUS. Public-sector backed support was provided through SEEDS, the investment arm of SG Growth Capital. In addition to equity funding, Pyxis has secured green debt financing from OCBC to support vessel deployment and charging infrastructure development.

Electric vessels and digital platform
A significant portion of the new capital will be allocated to scaling production of Pyxis’s electric vessels. The company currently reports an order book of 17 vessels.

Pyxis’s Electra energy management platform is designed to provide real-time performance monitoring and predictive maintenance capabilities. The system aims to support operators in reducing emissions and managing operating costs by integrating vessel hardware with digital energy management tools.

Charging infrastructure rollout
Pyxis is also expanding its marine charging network. Two ultra-fast charging locations are already in operation, with additional sites planned. A 300 kW marine charging installation is scheduled to come online in early 2026.

The charging network is intended to enable electric vessels to operate multiple daily sailings with limited downtime, supporting harbour and short-range coastal operations.

Partnerships and regional expansion
To strengthen its presence in Asia, Pyxis has signed a heads of agreement with MOL (Asia Oceania) to explore the formation of a potential joint venture. The company is also expanding into Indonesia through a partnership with Utomodeck Group.

These collaborations are focused on developing an ecosystem for electric coastal and harbour craft operations across Southeast Asia.

Regulatory environment
Pyxis’s expansion aligns with regulatory developments in key markets. In Singapore, new harbour craft are required to be fully electric or use clean fuels by 2030, creating demand for electric vessels and supporting charging infrastructure. Similar policy trends across the region are expected to influence investment in port electrification and battery energy storage systems.