Mitsui O.S.K. Lines, Ltd (MOL Group) has announced its intent to invest in consortium-driven venture capital Motion Venture Fund.
MOL is planning to use the investment to create synergy between startup companies’ innovative ideas and technologies and the MOL Group’s extensive resources, in turn creating new businesses.
The fund is known to invest in startup companies with innovative technologies that can contribute to decarbonisation and digital transformation in ocean shipping/logistics.
MOL previously announced it applied to the Nippon Foundation for funding as it looked to start demonstrating voyages of autonomous ships. Announced in June 2020, the MOL Group said two of its group companies and other consortium members jointly approached the Nippon Foundation.