Maritime tech VC theDOCK begins second fund with $10m

Maritime tech venture capital fund theDOCK, based in Israel, has announced the initial closing of its Navigator II fund, securing close to $10 million as it aims for a final closing total of up to $30 million by the end of 2022.

The organisation’s second fund, the capital will be focused on early-stage start-ups developing technologies for ports, shipping, supply chain, and offshore, targeting Israeli and international companies.

Founded in 2017 by Hannan Carmeli and Nir Gartzman, theDOCK works with a global network of accelerators, tech hubs, the Israeli Innovation Authority (IIA), and other stakeholders to promote innovation in the sector.

Its first pre-seed fund, raised in 2018, has already been deployed across a portfolio of eight companies including Orca AI, WAVE BL, DockTech, AiDock, ArcusTeam, and others. In its second fund, theDOCK will look for investments in seed to round A opportunities in the maritime and supply chain sectors.

“The global transportation domain which includes sectors such as maritime, ports, terminal operators and the whole supply chain is high on the agenda of corporates and government decision-makers alike. The importance of maintaining a smooth and nimble, yet resilient, supply chain is clear today more than ever,” said Hannan Carmeli, Co-Founder and Managing Partner of theDOCK.

“This makes the fund attractive to strategic investors who are determined to up their game by introducing digital innovation to their business, as well as to financial investors who seek returns in an emerging sector.”

The fund has announced its first investment, in ASIO – an early-stage start-up specialising in visual data analysis systems using a proprietary Artificial Intuition technology that can be applied in ports in place of standard camera systems.

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Rob O'Dwyer

Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He also serves as Chairman of the Smart Maritime Council. Rob has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email by clicking here, or on LinkedIn by clicking here.

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