The three companies will help to expand the consortium’s geographic reach to Japan and Greece, and introduce fresh strategic capital to start-ups.
Current corporates in the consortium include Wilhelmsen and HHLA ,who are both anchor investors of the fund. The consortium now includes a total of five members. To date, no other maritime fund has had as much participation from major maritime conglomerates.
Motion Ventures introduced the consortium earlier this year as a way to bring together industry leaders with a mutual interest in innovation adoption via an investment fund. Start-ups benefit from strategic capital, giving them access to insights from corporates to help them build their solutions with the industry context in mind. Meanwhile, corporate investors can access opportunities to shape new products and technologies, which could drive more value into their own operations.
Motion Ventures’ consortium now includes global maritime and supply chain corporates with a strong 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 invest in start-ups with the fund.
“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. What most startup 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,” said Shaun Hon, general partner of Motion Ventures.
“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, representative, MOL PLUS.
“It’s been invigorating to speak with the Motion Ventures’ team. Not only has it opened new doors to the latest technologies that our business units can use, but it’s given us an avenue to add strategic value to the founders by helping them mould the solutions that will ultimately, shape the maritime value chain of tomorrow,” said James Ong, investment committee, IMC Ventures.
"Motion Ventures has an impressive network of big names from across the maritime industry which supports innovators. This global consortium of corporations reduces the risk around the adoption of maritime and supply chain technologies and enables start-ups to focus on value creation and growth,” said Nikolas Pyrgiotis, VP of technology ventures, Signal Ventures.
Motion Ventures’ co-founders Michael Pomerleau and Nicklas Viby Fursund, will also be joining the fund as new general partners.