AI-powered workflow automation platform Sedna Communications has secured £7.6m in debt financing from CIBC Innovation Banking.
The London-based firm, which specialises in the global trade and supply chain market, will use the funding to drive AI innovation, expand platform integrations and support sustainable growth to better serve its customers.
The company helps maritime and supply chain businesses extract important data from emails to streamline and consolidate business decisions.
It has the largest customer base for maritime communications, including port agents, vessel operators, charterers, brokers, and IT managers.
In November 2024, Sedna acquired Nordic IT, a move which has reportedly positioned the company as the dominant provider of maritime email solutions, securing the largest customer share in the market.
“Securing this growth financing from CIBC Innovation Banking is a testament to Sedna’s strong market position and continued momentum,” said Robert Scott, CFO of Sedna
“In a sector where efficiency and speed are critical, this funding enables us to accelerate our investment in cutting-edge technology and scale our impact across the global trade and supply chain industry.
“CIBC has proven to be a dynamic and strategic financial provider, offering the flexibility and industry expertise that high-growth companies like ours need to thrive.”
Sean Duffy, managing director, UK & Europe, of CIBC Innovation Banking, added: “The maritime and supply chain industry is such an integral part of global trade, and communication is central to this success.
“Sedna’s solution enables players in the industry to make informed, timely decisions by ensuring critical information reaches the right people at the right time. We are proud to support Sedna on its growth journey.”