Ofiniti, formerly known as FuelBoss, a platform for managing marine fuel bunkering operations, has successfully spun out from DNV, attracting investment from private and venture capital investors.
As port authorities increase their focus on “digital bunkering” requirements, this new corporate structure will enable Ofiniti to operate with greater agility.
This update marks a significant step for DNV Ventures, showcasing its commitment to advancing innovative digital-first companies within fast-evolving sectors.
With this investment, DNV Ventures remains the primary shareholder of Ofiniti focussing on Liquefied Natural Gas (LNG) bunker deliveries. The new funding round was led by a Nordic family fund and Singapore-based maritime venture capital firm, ShipsFocus.
“DNV has developed a pathway to progress digital business ideas into new enterprises and incentivise corporate founders. The fact Ofiniti has attracted such an interest from investors is an endorsement of the great service it provides and a vindication of our Venture strategy,” commented Kjetil Ebbesberg, Chief Financial Officer of DNV.
Since 2021, Ofiniti has successfully completed over 3,000 LNG deliveries and recently expanded its digital offerings to cover all marine fuels. By digitizing bunker delivery and providing electronic Bunker Delivery Notes (eBDNs), Ofiniti enables its clients to streamline operations, improve vessel utilization, and gain real-time insights into their deliveries.
“ShipsFocus is very pleased to be part of DNV’s startup spinoff in Ofiniti as the choice VC investor. Ofiniti’s flagship FuelBoss bunkering platform has the DNV innate quality and accreditation with its dominance in the LNG market share. We believe the founders will bring it to great heights,” mentioned Chye Poh Chua, founder of ShipsFocus.
In addition, this innovation not only enhances safety and operational efficiency but also reduces administrative overhead and credit costs, making the entire delivery and invoicing process faster and more accurate.
This emphasis on digital transformation aligns with the Maritime Port Authority of Singapore’s plan to mandate “Digital Bunkering” by next year, positioning Ofiniti as a well-prepared player in this emerging market.
Reflecting the growing collaboration between DNV and Ofiniti, three DNV employees have transitioned to join Ofiniti as founders, complemented by additional hires in commercial and product development roles.
