Motion Ventures targets $100M to drive green innovation in maritime industry

Motion Ventures, a Singapore-based maritime venture investment fund, has unpacked what it endeavors to be its “largest maritime tech fund ever” valued at a staggering $100 million, aimed at supporting decarbonization as well as digitalization of the maritime industry.

Powered by Rainmaking, a UK-based firm that develops accelerator programs and venture capital businesses for startup companies, Motion Ventures Fund II (or Fund II) is intended for startups that offer asset-intensive hardware solutions, moving beyond software alone.

The Singapore-headquartered maritime player explained that this initiative was driven by the ‘fast-paced’ progress in sustainability, vessel operations and port modernization.

It is understood that Motion Ventures has thus far raised more than half of Fund II’s target (i.e. over $50 million), with investments already made in Hamburg-based maritime technology firm OceanScore and the Munich-headquartered autonomous electric trucking solutions provider Fernride.

Moreover, over the next 18-24 months, Fund II is set to be divided into cheques of $250,000 to $10,000,000 into at least 25 businesses that prioritize not just the decarbonization but also the digitalization of global maritime supply chains.

“The maritime industry is no stranger to complexity, but the challenges we face now—from lowering emissions to digitizing operations—require a new level of collaboration. By pairing founders with strategic backers, Fund II represents a crucial step forward: bringing together fresh solutions, both digital and hardware-based, and fast-tracking their path to scale,” said Jan Holm, Advisor to Motion Ventures.

As informed, Fund II builds on Motion Ventures’ inaugural Fund I, launched in 2021 with a target of $30 million. The first close back then was made with Norway’s shipping and logistics player Wilhelmsen and Germany’s logistics provider Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).

According to Motion Ventures, which is said to comprise a network of over 80 maritime executives, the initiative has seen financial support provided to over 30 companies so far, with its portfolio spanning players such as Freightify, Everimpact, Expedock, Harbor Lab, Limbiq, and FrontM.

These startups have been using digital technologies and artificial intelligence (AI) to ‘enhance’ operational efficiencies by crafting solutions like carbon tracking, accurate freight documentation, and rate management.