Panthalassa
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Investors
Founders
About
Panthalassa is a Portland, Oregon-based public-benefit corporation building autonomous, ocean-going AI compute nodes powered by wave energy and cooled by seawater 12. Founded in 2016, the company integrates AI inference hardware with wave-power generation and seawater cooling into a single offshore unit—a “lollipop-shaped” buoyant head connected to a submerged vertical tube 1. Panthalassa plans to deploy its Ocean-3 pilot node series in the northern Pacific Ocean in 2026, with commercial deployments targeted for 2027 1. The $140M Series B announced May 5, 2026 brings total funding to $210M 13.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-05-05 | Series B | $140M | Peter Thiel | John Doerr, TIME Ventures, SciFi Ventures, Susquehanna Sustainable Investments, Hanwha Asset Management, Anthony Pratt, Fortescue Ventures, Future Positive, WTI, Nimble Partners, Super Micro Computer, Sozo Ventures, Dylan Field, Planetary VC, Leblon Capital, Resilience Reserve, Portland Seed Fund, Intrepid Oregon Fund, Founders Fund, Gigascale Capital, Lowercarbon Capital, Unless, WovenEarth 12 |
What Investors Say
Peter Thiel, who led the round, stated: “The future demands more compute than we can imagine. Extra-terrestrial solutions are no longer science fiction. Panthalassa has opened the ocean frontier.” 1
John Doerr commented: “Panthalassa’s autonomous wave power system is a game changer in addressing global energy needs and clean power generation.” 1
What Founders Say
Garth Sheldon-Coulson, Co-Founder and CEO, said: “There are three sources of energy on the planet with tens of terawatts of new capacity potential: solar, nuclear, and the open ocean.” 1
Sources
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ESG Today, “Peter Thiel Leads $140 Million Capital Raise for Panthalassa to Power AI Computing Using Ocean Waves,” May 5, 2026. Accessed May 2026. https://www.esgtoday.com/peter-thiel-leads-140-million-capital-raise-for-panthalassa-to-power-ai-computing-using-ocean-waves/↩↩↩↩↩↩↩↩
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BusinessWire, “Panthalassa Raises $140 Million to Power AI at Sea,” May 5, 2026. Accessed May 2026. https://www.businesswire.com/news/home/20260504552400/en/Panthalassa-Raises-$140-Million-to-Power-AI-at-Sea↩↩
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TechStartups, “Peter Thiel-backed Panthalassa raises $140M to build wave-powered floating AI data centers,” May 5, 2026. Accessed May 2026. https://techstartups.com/2026/05/05/peter-thiel-backed-panthalassa-raises-140m-to-build-wave-powered-floating-ai-data-centers/↩