Wilhelmsen and Hamburger Hafen und Logistik (HHLA) have helped launch Motion Ventures, a consortium-driven investment fund to accelerate start-up innovations in the maritime industry and supply chain.
In a statement, Wilhemsen said Motion Ventures has been launched by Rainmaking, a company that seeks to encourage collaboration in logistics. The fund has a $22.7 million (S$30M) target and has completed its first close – with Wilhelmsen and HHLA as anchor investors.
Motion Ventures will target early-stage startups tackling challenges in the maritime value chain from first principle with scalable technologies such as artificial intelligence (AI), Continuous Intelligence, and HyperAutomation.
Shaun Hon, General Partner at Motion Ventures and Director at Rainmaking, said, “Motion Ventures is an innovation opportunity that tackles maritime value chain hurdles through a fresh industry consortium.
“For the first time, first-mover corporations like Wilhelmsen will bring together centuries of industry legacy, capital, resources and insight to ensure startups have the best possible chance to commercialise and find a strategic market fit.
“It’s an approach that will shake up the startup and corporate relationship and we’re excited to work with bold founders who are ready to make a meaningful impact in maritime value chains.”
The fund’s structure offers startups unprecedented access to key maritime firms through the consortium of corporate investors and opens potential traction pathways across the value chain.
Simultaneously for the anchor investors, the structure offers a de-risking process by offering insight and participation in the investment evaluations.
This represents a unique and first-of-its-kind fund structure in the maritime industry, to ensure quality corporate participation and a startup scale path model.
Christian Langer, Chief Digital Officer, HHLA, said, “The participation into Motion Ventures as an anchor investor allows HHLA to collaborate across the industry to accelerate innovation in the space as a consortium. We’re excited to work synergistically with other anchors to adopt, shape and scale the future of innovation.”