Let’s Make a Trade Enabling Global Trade for SME’s
Dear OCEAN Friends,
We hope this newsletter finds you well as we kick off the new year. We are thrilled to share with you the exciting developments and progress that OCEAN has made over the past year.
First and foremost, we are thrilled to announce that our annual sales have skyrocketed, with a 3x increase in revenue for 2022 closing in at a staggering US$6.1 million. This is a significant accomplishment that showcases the growing demand for our products and services.
Cash & Receivables
We are also pleased to report that our cash and receivables are strong, with US$1.4 million on hand and a steady stream of purchase orders coming in each month. This financial stability provides a solid foundation for our future growth and expansion plans.
We would also like to extend a warm welcome to Michael Blakey, co-founder of Cocoon Capital, who has joined our cap table. His vast experience and knowledge in the industry will be invaluable as we continue to scale and grow.
In addition, we are excited to announce that OCEAN has opened up financing opportunities in the UAE, with US$2 million in new purchase orders already secured. This is a significant step forward in expanding our reach and building a global presence.
Building the Future
Lastly, we are proud to have participated in major industry events such as AVCJ and the Procurement Leaders Conference over the past quarter. These events have provided valuable opportunities for networking, learning, and showcasing our products and services to a wider audience.
We are excited for the year ahead and look forward to continued growth and success with the support of our investors, friends and colleagues.
The OCEAN Team
Whilst we have attended a number of Industry Events during 2022, in Q4 Ocean was proud to participate in the 35th Annual AVCJ Private Equity & Venture Forum, as well as the Procurement Leaders Conference, which is considered to be Asia’s premier gathering of private market leaders. Our Founder, Vishal, was also honored to be a featured speaker and panelist, showcasing our company’s expertise and thought leadership in the industry.
During the last quarter Ocean has taken on a new customer, Villa Cotton, the award winning and socially responsible American bedding, drapery and upholstery company that sources their designs and material from Italy, Our first trade with Villa Cotton was for $80,000 and we look forward to a mutually beneficial relationship as we help them expand their business throughout the US & Canada during 2023 and beyond.
HOW CAN YOU HELP?
We’re hiring so please share these open positions with your network:
- Chief Marketing Officer
- Chief Operating officer with experience in Fintech or Logistics tech
We plan to start Series A tech demos soon – for an early sneak peek, please feel free to sign up for the Tech Demo here.
Vishal H. Kewalramani
PS: Feel free to drop any time in my calendar here to catch up.