SEEDS Capital appoints six partners to invest $50m in maritime startups

More than 50 Singapore-based startups are expected to benefit.

Investment arm of Enterprise Singapore (ESG), SEEDS Capital has appointed six co-investment partners to catalyse a combined $50m of investments into maritime technology startups, according to an announcement.

The six partners are Innoport, KSL Maritime Ventures, PSA unboXed, Rainmaking, ShipsFocus-Quest Ventures and TecPier. Over 50 Singapore-based startups are expected to benefit from the joint investments.

This aims to drive the growth of the maritime sector through technology and innovation and is supported by ESG and the Maritime and Port Authority of Singapore (MPA).

SEEDS Capital and the appointed partners will invest in early-stage maritime technology startups to develop solutions that improve operational efficiency and safety across the maritime sector. The partners are said to provide hands-on assistance in helping early-stage startups to fast-track commercialisation.

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.