Italian shipbuilding heavyweight Fincantieri has formalized its investment in WSense, a local deep-tech scale-up specialized in underwater monitoring and communication.
The collaboration between the two companies, which was launched by the signing of a Memorandum of Understanding (MoU) on December 21, 2023, has already produced ‘tangible results’, including the awarding of three tenders issued by the Italian National Center for the Underwater Domain. These projects involve the development and implementation of advanced solutions for underwater communication.
In addition, Fincantieri and WSense are actively involved in the participation in additional Italian and European tenders aimed at innovation in the underwater sector, as well as in joint commercial proposals.
The investment in WSense is a further building block in the Fincantieri underwater strategy. It strengthens its position in critical technologies for underwater communication, which is a sector of growing relevance, especially in the context of dual-use applications, the company highlighted.
The transaction involves the subscription of a convertible loan for an initial amount of €2.5 million, with the option to increase the investment by a further €2.5 million.
The timescales for the conversion into equity will be contingent upon the occurrence of specific conditions typical of similar transactions.
The completion of the investment in WSense is subject to the fulfillment of certain conditions agreed upon by the parties, in addition to obtaining the authorizations required for this type of transaction, Fincantieri added.
“This investment is another step forward in our innovation and digitalization strategy. The W’Sense technologies open up new possibilities for the monitoring and security of maritime infrastructures and act as key enablers for the advancement of the entire underwater domain ,” Pierroberto Folgiero , Chief Executive Officer and General Manager of Fincantieri, commented.
“With this transaction, we are confirming our commitment to investing in pioneering solutions that can define the future of shipbuilding and underwater defense, while simultaneously supporting the growth of an Italian center of excellence and rein forcing Fincantieri’s leading role in our country’s industrial landscape.”
“Fincantieri’s entry into W’Sense’s capital represents a significant acknowledgment of the technological and strategic value of our solutions in the field of underwater communication. This transaction enables us to accelerate our industrial and commercial growth, rein forcing W’Sense’s position as a key player in a sector that is crucial for the country’s security, sustainability, and competitiveness ,” Chiara Petrioli , CEO of WSense, concluded.