MOL PLUS, IMC Ventures and Signal Ventures have joined the Motion Ventures’ $30 million investment fund, which provides capital for maritime start-ups to support their development and accelerate their go to market capabilities.
The additions bring membership of the Motion Ventures consortium up to five, with the three new companies joining Wilhelmsen and HHLA, who are both anchor investors of the fund. The move is also seen as a way of expanding the group’s geographic reach to Japan and Greece, introducing fresh strategic capital to start-ups in those locations.
MOL PLUS is the corporate venture arm of Japanese shipping conglomerate Mitsui OSK Lines, while Signal Ventures is a similar subsidiary of Signal Group of Greece. IMC Ventures is part of IMC Industrial Group, a maritime and industrial systems provider from Singapore.
“Introducing MOL PLUS, IMC Industrial Group and Signal Ventures into our corporate consortium brings us closer to our goal of accelerating the industry-wide adoption of new technologies,” said Shaun Hon, General Partner of Motion Ventures.
“What most start-up founders underestimate is how difficult it can be to adapt their solution for multiple conglomerates. This problem is amplified further in the maritime and supply chain sectors because of their scale of operations, which is why it’s so important to bring in more players across the value chain.”
Motion Ventures aims to provide its chosen start-ups with both strategic capital and access to insights from its corporate members to help them build their technologies with industry context in mind. For the corporate investors, the fund also provides access opportunities to shape those new products, potentially driving more value in their own operations.
The consortium now includes stakeholders with a market presence in Singapore, Japan, Greece, Denmark and throughout Europe. Motion Ventures also has backing from the Singapore government’s SEEDS Capital, the investment arm of Enterprise Singapore, which jointly invests in start-ups with the fund.
“Motion Ventures’ corporate consortium approach has resonated with us as a way to supercharge start-ups and reduce innovation risks alongside other established industry leaders. We look forward to collaborating with like-minded industry peers to spearhead the future of maritime and supply chain,” said Takuya Sakamoto, MOL PLUS.