Harbor Lab raises $16 million to enhance maritime communication

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Harbor Lab raises $16 million to enhance maritime communication

Harbor Lab has raised a $16 million Series A funding round led by European VC Atomico.

With participation from existing investors Notion Capital, Venture Friends, SpeedInvest and The Dock, and new investors Endeavor Catalyst and maritime VC TMV, the round follows a Seed round of €6.1 million ($6.6 million) and takes total funding for the Greek startup to some $22.5 million.

Atomico Partner, Ben Blume, will join the board. According to Harbor Lab, its software promises to improve how shipping firms handle port-related fees, allowing a single person to manage disbursements for up to 50 vessels.

The software also offers solutions to prevent invoicing errors and overpayments by comparing port call expenditures to real-time official port tariffs from global port authorities, as well as services like Know-Your-Customer (KYC) verification to improve security and compliance in contact with local agents.

Over 4 million port calls for cargo loading and discharging are made every year across approximately 4,000 ports worldwide.

READ: Advent eModal launches PreGate application at Port of Philadelphia

Harbor Lab founder, Antonis Malaxianakis, said: “By demystifying disbursement accounting, we’re not just streamlining operations; we’re fostering a culture of trust and innovation across the maritime ecosystem.

“Harbor Lab’s platform gives peace of mind to shipping companies by enabling them to run critical parts of their operations in a more seamless, transparent and efficient way. It is already helping businesses around the world – including shipping giants Great Eastern Shipping and Oldendorff – and has significant opportunity to expand globally.”

In February, Ninety Percent Of Everything Limited (90POE) and Harbor Lab revealed their strategic integration partnership.

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