CIBC Innovation Banking today announced that it has provided £8 million in debt financing to Sedna Communications Ltd, an Insight Partners-backed AI-powered workflow automation platform, which specialises in the global trade and supply chain market. The funding will drive AI innovation, expand platform integrations, and support sustainable growth to better serve Sedna’s customers.
Founded in 2017, Sedna helps maritime and supply chain businesses extract important data from emails – the primary mode of communication in the industry – 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.
By leveraging Sedna’s AI-driven platform, businesses can increase operator capacity by 200% and achieve an 80% productivity boost, saving each team member an average of 10 hours per week. In November 2024, Sedna strengthened its capabilities with the acquisition of Nordic IT, a leading specialist in email management solutions. This strategic move, combined with Sedna’s rapid growth, has positioned the company as the dominant provider of maritime email solutions, securing the largest customer share in the market.
