Matsya Systems Next generation Underwater Ship Hull Cleaning - PowerPoint PPT Presentation

Matsya Systems Next generation Underwater Ship Hull Cleaning

Customer Pain Points Biofouling occurs on ships, despite advances like anti-biofouling paint Causes increase in fuel consumption by 5-10% (mild growth) 10-25% (within 4-6 months) 50-85% (extreme cases, stagnant ship) Ship hull damaged by biofouling

How is the pain point addressed currently ? Hull Cleaning Frequency: Once in 2.5 years Manual Cleaning: Issue: Inefficient, time consuming, dangerous, damages paint, polluting Out-of-turn shipment to foreign port like Singapore Issue: Requires extra logistics and planning Change in salinity Issue: Requires extra logistics and planning, stops biogrowth, does not remove it

Insights from Customer Interaction “The reduction in logistics efforts if such a service is provided in India would be a lot” - Captain Ashwini GM, Tanker Dept., SCI “This idea has immense potential” - Capt. Shailendra Kohli, Deputy Conservator, MPT

Market Size Estimation TAM=₹ 1260 Cr. ($210 M) Beachhead ₹ 33 Cr. ($5 M) Market: Includes only ships with length greater than 150m, typically container ships, tankers and bulk carriers

Why is our Solution Unique? With our Underwater Robot No issue in cleaning ships with draft more than 12 m Not affected by water quality Takes 4-6 hours instead of 1-2 days No damage to anti-biofouling paint No AIS (Aquatic Invasive Species) hazard/violation

Technology Milestones Achieved Carrier (Developed) Robotic Vessel to carry equipment Already developed matured tech Process to license tech. From IITB underway Prototype ready For final product, Manufacturing Time: 3 months R&D cost: Minimal Significant entry barrier for a new player Actual Working Prototype of Carrier

Technology Roadmap Cleaner Phase I Develop actual cleaning apparatus Requires major inputs, in terms of money and time Extensive engineering consultations required Phase II Extensive field testing and integration with Carrier Phase III Official Market release of the product

Time line The team is expanded at regular intervals throughout 5 years. Note: Headcount: 10, 21, 40, 100, 150 in respective years

Go to Market Strategy Already established contacts: Mumbai Port and Shipping Corporation of India Starting customer to be serviced @ half cost (Beta testing) Opportunities: Smaller Developing Market size in India Very inefficient operations part

Business Model Lower Frequency Cargo ships, more than 150 m in length Dry Docking $$$ Cleaning Services Services Matsya Shipping Cleaning Services Operator Systems $$ Off-shore $ How are we unique? Cleaning Save 10% fuel for a round-trip of 6 months Services Allow in-dock operation in parallel with cargo work Allow high cleaning rate 1000 m 2 /hr allows multiple operations per day

Unit Economics 1 Unit = 1 Cleaning Service of 1 ship Revenue per service : ₹ 8 Lac ($ 13,000)

Operating Expenses 1 crore INR = USD 150 thousand

Revenue & Cash Balance 1 crore INR = USD 150 thousand

Funding Raised (in crore rupees) 1 crore INR = USD 150 thousand ₹ 8 cr Chiefly product Scaling the product Scaling the business development & marketing ₹ 3 cr ₹ 1 cr

Milestones Seed : Setting up the startup, resolving various IP related legal issues, product development and testing, development of fully working prototype Series A : Developing 4 vehicles, expand to 3 ports with full feature services, extensive marketing efforts Series B : Developing 17 vehicles, expansion to all 13 major Indian ports, and going international by year 5

Thank You

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