Shipping services firm Signal Group has launched a new technology investment arm called Signal Ventures, aiming to invest in maritime start-ups with which it can partner and collaborate.
The company will look for businesses that can link up with its own data processing capabilities on vessel port calls, emissions, and port and weather information, offering venture capital and business development support to allow the start-up founders to focus on further development of their product.
“The maritime tech space has grown significantly over the past three years, but 2021 will see more opportunities than ever before,” said Signal Group CEO Ioannis Martinos.
“However, it’s going to be tough for any start-up without long-term solid backing, infrastructure or a unique proposition behind it. Signal Ventures, with its shipping industry pedigree, is committed to the sector.”
“We’ll work with entrepreneurs with great ideas and exciting technologies. Our world-class support is already turning ideas into long term success.”
Signal Group notes that it has already successfully incubated OilX, a UK oil analytics company; invested in and collaborated with Bunker Metric, a bunker procurement optimisation start-up; and worked with Swedish weather data provider Storm Glass.
