Companies · Other

Top Ships Inc.

151 24, MAROUSSI · Other

Diligence memoA one-page analyst read on Top Ships Inc. — recommendation, valuation, rhythm, risks.
$8.0M
Total raised · real
2
Rounds
10.1×
Latest step-up
Top 27%
Sector rank · raised
Series A
Latest stage · inferred · Mon Oct 10 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Top Ships Inc. looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.43× the median modeled value of Series A Other companies in 2022–2024 (1135 peers) — value vs value, same stage and era.
  • Within the normal band (143% of peer median) for its niche.
At-risk
  • Last raise 3.7 yr ago; this sector typically re-raises about every 11 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other

Top Ships Inc. is one of 25015 Other companies tracked from 151 24, MAROUSSI. By capital raised it ranks in the upper tier (ahead of 74% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
$25M–$100M
Issuer revenue
Rule 506(b)
Reg D exemption
1
Investors (latest)
2022-10-10
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MPre-Seed · 2022-06-03 Raised $715K (real) Modeled valuation $7.1M (est)$715K$7.1MPre-Seed2022Series A · 2022-10-10 Raised $7.2M (real) Modeled valuation $55M (est)$7.2M$55MSeries A2022+$7.2MCumulative $8.0M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$715K · 2022
Series A$7.2M · 2022no Seed on file

Stages are modeled from round size (public records carry no series label). No record for: Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$55.4M
Base estimate est.
$9.9M
Conservative case
$178.3M
Upside case
$32.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks. Directional, not a quoted figure.

Pre-Seed · modeled $7.1M · 2022-06-032022Series A · modeled $55.4M · 2022-10-102022
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
55%
Survival probability
30% low · 75% high
1.35×/yr
Annual markup
1.70×/yr upside case
3.7 yr
Elapsed time used
3.7 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
4 mo
Avg between rounds
$22.5M/yr
Capital velocity
4.1 yr
On record since
2022
First round
2
Rounds on file
How it compares to the market

Benchmarked against 25015 companies in Other. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 3.9× above median
This company$8.0M
Sector median$2.0M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.3× above median
This company$7.2M
Sector median$5.7M
Modeled value — vs sector median (estimate, all stages) 3.1× above median
This company$55.4M
Sector median$17.7M

Raised more than 74% of sector peers (real $). Modeled value above 73% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #275 of 1,135.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Ness Well, Inc. · Series A Raised $14.9M · modeled $142.5M (est)Quantori, Inc. · Series A Raised $15.0M · modeled $138.6M (est)Qquv Investments 5, Llc · Series A Raised $15.0M · modeled $135.1M (est)Applause Network TV, Inc. · Series A Raised $15.0M · modeled $135.1M (est)Trustworthy Co · Series A Raised $15.5M · modeled $134.4M (est)DigniFi Holding, Inc. · Series A Raised $24.3M · modeled $134.0M (est)Proventures Capital, Inc. · Series A Raised $14.7M · modeled $133.0M (est)Zenledger, Inc. · Series A Raised $21.6M · modeled $132.1M (est)Gridwise, Inc. · Series A Raised $20.4M · modeled $131.8M (est)Aztec Broadway Ltd Liability Co · Series A Raised $14.0M · modeled $127.7M (est)KABR Jamaica SPE LLC · Series A Raised $14.7M · modeled $126.9M (est)Harmony Musical LLC · Series A Raised $15.0M · modeled $126.3M (est)Top Ships Inc. (this company) Raised $8.0M · modeled $55.4M (est)Top Ships Inc.
CompanyStageRaised · realValue · estvs peer med.
Ness Well, Inc.Series A$14.9M$142.5M3.67×
Quantori, Inc.Series A$15.0M$138.6M3.57×
Qquv Investments 5, LlcSeries A$15.0M$135.1M3.48×
Applause Network TV, Inc.Series A$15.0M$135.1M3.48×
Trustworthy CoSeries A$15.5M$134.4M3.46×
DigniFi Holding, Inc.Series A$24.3M$134.0M3.45×
Proventures Capital, Inc.Series A$14.7M$133.0M3.42×
Zenledger, Inc.Series A$21.6M$132.1M3.40×
Gridwise, Inc.Series A$20.4M$131.8M3.39×
Aztec Broadway Ltd Liability CoSeries A$14.0M$127.7M3.29×
KABR Jamaica SPE LLCSeries A$14.7M$126.9M3.26×
Harmony Musical LLCSeries A$15.0M$126.3M3.25×
Top Ships Inc. this companySeries A$8.0M$55.4M1.43×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$715K2022-06-03$4.0M$7.1M90%
Series A$7.2M2022-10-10$32.9M$55.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$715K2022-06-03
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Series A$7.2M2022-10-10
    • Came back fast: 4 mo vs the ~11 mo sector norm.
    • Round 10.1× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2023 ~Q1
Modeled next raise · ~4mo cadence
$21.7M
Modeled next size est.range $14.1M$34.8M
10.1×
Last step-up
$22.5M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Alexandros Tsirikos2022-06
EVANGELOS PISTIOLIS2022-06
KONSTANTINOS KARELAS2022-06
KONSTANTINOS PATIS2022-06
PAOLO JAVARONE2022-06
STAVROS EMMANUEL2022-06
VANGELIS IKONOMOU2022-06
Registry & provenance

Top Ships Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1296484
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Essere Management Holdco, LLCOtherSeries A$8.0M$55.4Msame sector · same stage
Tinyhood, Inc.OtherSeries A$8.0M$54.9Msame sector · same stage
BENZINI BROS Ltd LIABILITY CoOtherSeries A$8.0M$53.7Msame sector · same stage
INDICOR Holdings Management Feeder, LLCOtherSeries A$8.0M$53.8Msame sector · same stage
Grit, LlcOtherSeries A$8.0M$57.4Msame sector · same stage
Zuman, Inc.OtherSeries A$7.9M$57.5Msame sector · same stage
Clarence Holding, LLCOtherSeries A$7.8M$56.9Msame sector · same stage
Dash Dash Dot Ltd Liability CoOtherSeries A$8.3M$56.8Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Armada Topco Inc.OtherSeries A$15.2M88%
Bullwhip Topco, LlcOtherSeries D+$2.0B86%
Top Holdings, LLCOtherPre-Seed$1.9M85%
Freight Topco, LlcOtherSeries D+$1.2B85%
Mercury Topco Holdings, Inc.OtherSeries A$45.2M83%
Shipley Topco, LLCOtherSeries A$73.9M83%
Maritime Ventures, Inc.OtherSeed$4.6M83%
Topsort, Inc.OtherSeries A$80.8M83%
Frequently asked
How much funding has Top Ships Inc. raised?
Top Ships Inc. has raised approximately $8.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Top Ships Inc.'s estimated valuation?
Provath's modeled valuation for Top Ships Inc. is approximately $55.4M (modeled range $9.9M–$178.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Top Ships Inc. at?
Top Ships Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Mon Oct 10.
What does Top Ships Inc. do and where is it based?
Top Ships Inc. operates in the Other sector, based in 151 24, MAROUSSI.
Explore related

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