A consortium-driven investment fund named as “Motion Ventures” powered by Rainmaking was recently launched, with Wilhelmsen and HHLA as anchor investors.
As explained, Motion Ventures will fast-track critical validation points for product-market fit & scale paths for startups via a corporate consortium of investors & backing from the Singapore Government’s SEEDS Capital.
In fact, the fund has a S$30M target and has completed its first close with Wilhelmsen and HHLA as anchor investors, in an effort to accelerate startups solving maritime value chain hurdles with strategic capital and support.
“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 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”.
…said Shaun Hon, General Partner at Motion Ventures and Director at Rainmaking.
In addition, Motion Ventures will target early-stage startups tackling challenges in the maritime value chain from first principle with scalable technologies such as Artificial Intelligence, Continuous Intelligence, and HyperAutomation.
The fund’s structure offers startups unprecedented access to key maritime firms through the consortium of corporate investors and opens potential traction pathways across the value chain.
Motion Ventures will tap into Rainmaking’s global networks to source for suitable technology startups. The fund will also offer portfolio companies advantages to scale via its Venture Studio and Open Innovation Platform that facilitates commercial partnerships between startups and Fortune 500 companies.
“Being the first anchor of this inclusive collaboration approach to seek scalable future solutions is an inherently exciting proposition and indeed in line with Wilhelmsen’s vision of shaping the maritime industry”.
…said Nakul Malhotra, VP Open Innovation, Wilhelmsen.
Motion Ventures will jointly invest into startups with SEEDS Capital, the investment arm of Enterprise Singapore. This follows SEEDS Capital’s S$50M commitment in June 2020 to co-invest into maritime technology startups with newly appointed partners, such as Rainmaking.
“The participation into Motion Ventures as an anchor investor allows HHLA to collaborate across the industry to accelerate innovation in the space as a consortium. We’re excited to work synergistically with other anchors to adopt, shape and scale the future of innovation”.
… Christian Langer, Chief Digital Officer, HHLA, concluded.
