Rainmaking launches Motion Ventures to boost innovation in the maritime industry
From left to right: Rainmaking co-founder Michael Pomerleau, Rainmaking director Shaun Hon and Wilhelmsen vice president of open innovation Nakul Malhotra. Image Credits: Rainmaking
A new fund has launched, with backing from the Singaporean government, to support tech innovation for the maritime industry. Called Motion Ventures, it is targeting $30 million SGD (about $22.8 million USD) and has completed its first close, with Wilhelmsen, one of the world’s largest maritime networks, and logistics company HHLA as anchor investors.
Motion Ventures was launched by Rainmaking, the venture building and investment firm that runs accelerator program Startupbootcamp, and will jointly invest in startups with SEEDS Capital, the investment arm of government agency Enterprise Singapore.
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Home › Shipping News › Wilhelmsen And HHLA Anchors S$30M Fund For Innovations Tackling Maritime Value Chain Challenges
Wilhelmsen And HHLA Anchors S$30M Fund For Innovations Tackling Maritime Value Chain Challenges
February 25, 2021
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Motion Ventures, the consortium-driven investment fund powered by Rainmaking, has launched. The fund has a S$30M target and has completed its first close – with Wilhelmsen and HHLA as anchor investors – to accelerate startups solving maritime value chain hurdles with strategic capital and support.
“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
Wilhelmsen, HHLA invest in maritime-focused startups February 25, 2021, by Naida Hakirevic
Motion Ventures, a consortium-driven investment fund powered by Rainmaking, was launched on 25 February 2021, attracting investments from Norway’s maritime industry group Wilhelmsen and Germany’s port and terminal operator Hamburger Hafen und Logistik AG (HHLA).
The fund has a S$30 million (about $22.7 million) target and has completed its first close – with Wilhelmsen and HHLA as anchor investors – to accelerate startups solving maritime value chain hurdles with strategic capital and support.
“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 s
Motion Ventures debuts S$30M fund anchored by Wilhelmsen to pioneer innovations tackling maritime value chain challenges hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.