Ocean surveillance startup Quartermaster raises $140 mn, hits $1 bn valuation

Virginia-based ocean surveillance startup Quartermaster raised $140 million, led by Insight Partners and Stifel, reaching a $1 billion valuation. Funds will scale production of its SmartMast real-time maritime tracking system, already deployed on 650+ ships across 25 countries. Demand has surged amid disruptions linked to the Iranian conflict, CEO Neil Sobin said.