Posted On: 01-07-2020
More than 50 promising Singapore-based startups will get liquidity boost thanks to the new initiative by SEEDS Capital. SEEDS Capital, the investment arm of Enterprise Singapore (ESG),has appointed six co-investment partners to provide the maritime ecosystem a strong leg-up by catalysing a combined S$50 million of investments into maritime technology startups.The six partners are Innoport, KSL Maritime Ventures, PSA unboXed, Rainmaking,ShipsFocus-Quest Ventures and TecPier. Supported by ESG and the Maritime and PortAuthority of Singapore (MPA), this latest initiative by SEEDS Capital aims to drive the growth of the maritime sector through technology and innovation. Strengthening the capability of the sector is expected to enhance in turn the resilience of key economic pillars such as the logistics, manufacturing, and wholesale trade sectors which are reliant on smooth and efficient global supply chain routes. The appointment of the six partners is announced at Deal Friday today, a platform which connects companies with venture capitals (VCs) and corporates. Since the start of 2020, four virtual sessions have been held profiling Singapore based startups to 240 investors and corporates in Southeast Asia, China and Europe,facilitating over 120 unique connections. As informed, SEEDS Capital and the appointed partners will invest in early-stage maritime technology startups to develop innovative and sustainable solutions that improve operational efficiency and safety across the different segments of the maritime sector. The partners will provide hands-on assistance in helping early-stage startups to fast-track commercialisation, with mentorship and connection to potential clients through their omega replica networks.
(Credits: www.offshore-energy.biz)
