Panthalassa Secures $140 Million Funding Led by Peter Thiel for Ocean AI Technology

Panthalassa has secured $140 million in a funding round led by Peter Thiel, aimed at propelling the company's AI-powered sea technology. The investment, which drew participation from John Doerr, Marc Benioff's TIME Ventures, Max Levchin's SciFi Ventures, and Founders Fund, will support the completion of Panthalassa's pilot manufacturing facility near Portland.

Founded in 2016 and based in Oregon, the startup has spent nearly a decade developing technologies in power generation, propulsion, autonomous operations, and computing.

Panthalassa's core innovation merges wave power generated by floating orbs with onsite AI computing, transmitting data via low-Earth-orbit satellites. These systems harness high-energy waves into reliable, clean power offshore. Co-founder and CEO Garth Sheldon-Coulson stated that the company has developed this offshore technology, with Ocean-3 pilots launching this year and commercial rollout planned for 2027.

U.S. tech billionaire, described the venture as a breakthrough in unconventional computing frontiers. "Extra-terrestrial solutions are no longer science fiction. Panthalassa has opened the ocean frontier," Thiel said.

The funding comes as demand for AI infrastructure pushes investments into novel energy sources like ocean waves, positioning Panthalassa to deploy autonomous, power-generating platforms at sea.