We just closed a $2.6M pre-seed round led by N49P, with participation from 10VC, Elementum, and Northside Ventures. The proceeds will be used to grow our team & complete design work for our inaugural shipyard - scheduled to start cutting steel in the second half of 2026 - and first products.

Our goal: 100x America's shipbuilding output, from 5 or fewer large ships per year to 500. By providing ships for major US exports like oil & gas and agriculture (and exporting the ships themselves), we can kick off a sustainable revival of our maritime industrial base unlike any seen in this country's history.

Valstad's approach rests on 3 key principles:

1. Design what we build. Designing a ship isn't just about CAD models on a computer screen. It involves design of complex supply chains and the manufacturing process required to deliver high-quality, cost-competitive ships.
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2. Build things we can make a lot of. The biggest difference between American and Chinese or South Korean shipbuilding today can be summed up in a single world: scale. Economies of scale dominate every manufacturing process, driving costs down and efficiency up, and shipbuilding is no different.
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3. Vertically integrate. Building oil tankers in America is difficult, in part, because the supply chain doesn't exist locally for the myriad parts needed - valves, joiner panels, engines, the list is huge. By starting with smaller inland vessels and scaling up, we will also scale the supply chain, building components in-house where it makes sense and encouraging local suppliers to step in where it doesn't.

We are an automation-first company. By embracing software, robotics, and AI from the ground up, our shipyards will be the most labor-efficient in the world, allowing us to massively increase output while creating good, high-paying jobs for American workers.

Our first $50M facility will produce ships for the inland maritime industry, and we're actively in discussions with investors, government officials, suppliers, customers, strategic partners, and landowners to make that happen.

This pre-seed round, while intentionally small, will set the stage for much bigger things in the months ahead.

Stay tuned. It's really happening.