Cypriot VR company bringing change to shipping sector

A Cypriot VR/MR software company offers disruptive new technologies that are set to change the way professional training is conducted. The Kinisis Ventures Fund I portfolio company Ascanio, announced the launch of Ascanio Maritime, a joint venture with a global giant in the maritime and shipping industry, Fameline Holding Group.

Mixed Reality is the point where digital and real elements intersect, combining interactable digital objects with the physical world. Ascanio has taken this revolutionary new technology and applied it to high-risk, mission-critical positions to create mixed-reality training solutions, taking traditional and virtual training to a whole other level. Their vision is to revolutionise the training industry and eventually become the new standard in the sector.

The announcement mentions, “Ascanio Maritime will leverage the newest software as a service (SaaS) technology such as mixed reality, to deliver disruptive, evolutionary training and remote monitoring & assistance services in shipping.”

“We are extremely proud of this major partnership with Fameline. We are excited and eager to work with our great partners to deliver what will be industry and sector ground-breaking commercial solutions.” the Ascanio CEO George Tziazas said.

“The connection between us and our partners at Fameline was instant and the similarities in vision helped move our partnership quickly so we can start executing and disrupting “, added the Ascanio CTO Minas Kyriakou

From Military training simulations to simulation of heavy machinery and dangerous equipment in the maritime industry, Ascanio’s software weaves real environments with digital assets, creating a new way for professionals to train, one that is efficient, scalable and, most importantly, safe.

Ascanio and Fameline are combining forces to create something unique with the support of the Kinisis Ventures Fund.

Fameline Holding Group was founded in 1989. It is a group of companies with international operations in a number of industries, primarily in the maritime, satellite communication and oil and gas industries with growing interest in the healthcare and ICT industries. The company is headquartered in Cyprus, and maintains further offices in Limassol, Piraeus, Hamburg, Rotterdam, Groningen, Monaco, Odessa, Riga, Abu Dhabi, Dubai, Basra, Singapore and Shanghai.

“Through our partnership with Ascanio, our vision for the future of the maritime industry is coming to fruition. Together with this team of extraordinary professionals, we aspire to harness and apply cutting-edge mixed reality technologies to our value chain. Our group has invested significantly in the past years in young talent and technologies, and we are particularly pleased and proud to see their value growing in the eyes of our customers and the wider sector. Welcome aboard Ascanio Maritime” the Fameline Holding Group CEO Adamos Seraphides said.

The KV Kinisis Ventures Fund I, is the first CySEC-registered venture capital fund focusing primarily on Cypriot startups.

“With the depth and breadth of maritime companies and resources under the Fameline group umbrella and ASCANIO’s expertise in developing experiential software using cutting-edge technologies, this partnership is bound to create and deliver disruptive solutions in the maritime/shipping industry”, Andreas Panayi of Kinisis Ventures said.

Ascanio Maritime will have offices in Nicosia, with a presence in Fameline’s Limassol offices. The team is looking to deliver its mixed-reality remote monitoring & assistance modules within a few months, and then start delivering its training modules.