Port digitalisation firm Innovez One has announced the completion of a pre-Series A funding round, led by Innoport, the corporate venture capital arm of the Schulte Group. The amount of capital raised was not disclosed.
Founded in 2004, Singapore-based Innovez One is a provider of port management systems, using its AI-powered MarineM software to optimise operations and services. Ports like Singapore, Tanjung Priok (Indonesia) and Portsmouth (UK) are clients, and the company has recently won contracts to deploy MarineM in Malaysia and in the Indonesian ports of Balikpapan and Belawan.
“This funding will accelerate the group’s global expansion ambitions, particularly in EMEA and Asia, and enhance our management and operational capabilities. It also provides the base for the anticipated closure of our current Series A funding round, which will further support the growth of Innovez One,” said David Yeo, Innovez One’s founder and CEO.
“As ports around the world are having to tackle major disruptions in the supply chain, it’s more important than ever that they have powerful tools to progress and optimise some of their most complex and vital operations.”
Haymon Sinapius of Innoport will also join Innovez One’s board as part of the funding deal.
“Innovez One’s MarineM platform is a great example of how AI and machine learning can be applied to unlock new efficiencies in ports around the world – from shortening turnaround times to making sure operators are paid on time, it’s great to see this technology making a difference,” he said.
“Now, with the potential to bring the Schulte Group’s worldwide network to bear on this process, I’m excited to collaborate in empowering a new generation of smart ports.”
