SEEDS Capital, MPA seek to invest $60m in Singapore maritime tech

The two groups are looking for joint investors.

Together with Maritime and Port Authority of Singapore (MPA), SEEDS Capital, the investment arm of Enterprise Singapore launches a Call-For-Partnership (CFP) for suitable investors to drive innovation in the maritime technology sector, the company announced.

The CFP aims utilise close to $60m in joint investments with the private sector to spur innovation in the maritime space.

The CFP will onboard investors to co-invest with SEEDS Capital in early-stage maritime deep tech startups based in Singapore, where it targets to give support in developing innovative technology solutions that will improve the operational efficiency, safety and sustainability across the different clusters of maritime industry, and co-create new business models. These include shipping, port logistics, port operations, and maritime services.

SEEDS Capital is seeking partners who can do the following: (1) Identify and co-invest in Singapore-based, deep tech and early-stage startups in the maritime tech space, and (2) Provide hands-on assistance in helping early-stage startups to fast-track commercialisation, with mentorship and connection to potential clients through their networks.

Application for the CFP runs from 8 November to 13 December 2019

SEEDS Capital will match up to 7:3 for the first$500,000 of co-investment, and up to $4 m per startup, under the Startup SG Equity scheme.