Maritime startup Motion Ventures launches fund with Wilhelmsen
To much fanfare, Motion Ventures debuts as a consortium investment fund focused on maritime industry technology innovation.
By Michael McGrady, Maritime Direct Americas & Pacific Correspondent
In a statement to the world, an new “consortium-driven investment fund powered by Rainmaking,” launched with an initial investment with of roughly USD $22.58 million. The fund also completed its first close with anchor investments from Wilhelmsen and HHLA.
According to a press release, the fund is meant “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,” said Shaun Hon in a statement. Hon is the general partner at Motion Ventures and is a director at Rainmaking, as well. “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 commercialize 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,” Hon said.
Motion will target early-stage maritime startups looking to boost the overall value chain with scalable technology solutions like artificial intelligence, hyper-automation, and continuous intelligence.
“Motion Ventures is evaluating opportunities to invest in companies and encourages ambitious founders to reach out to the team,” the statement notes.
