Signal Group's new investment arm is seeking entrepreneurs and technology start-ups to work with on new digital solutions for shipping.
The Thenamaris aframax chartering spin-off has launched Signal Ventures to focus on backing advanced analytics, optimisation and artificial intelligence technologies for the maritime and trade sectors.
The company will be led by Signal Group chief executive Ioannis Martinos.
Signal Ventures will offer new partners access to its data processing capabilities, as well as port call, emissions, port and weather information.
Financial support will be available, as well as mentoring.
Already working with new companies
Signal is already working with start-ups active in ship bunkering, oil and dry bulk analytics, and marine weather, the company said.
"Following the success of early private deals and the growing activity in the maritime start-up scene, Signal Ventures has been set up to support technology innovation," Signal Group said.
Collaboration is being coordinated by Nikolas Pyrgiotis, vice president of technology ventures at Signal.
Martinos said: "The maritime tech space has grown significantly over the past three years, but 2021 will see more opportunities than ever before.
"However, it's going to be tough for any start-up without long-term solid backing, infrastructure or a unique proposition behind it."
Entrepreneurs in residence
One of the new partners is OilX, a UK oil analytics company, while it has already invested in and collaborated with Bunker Metric, a bunker procurement optimisation start-up, and Swedish weather data provider Storm Glass.
Two "entrepreneurs in residence" are also working with the Signal team to develop and take to market new products.
OilX founder and chief executive Florian Thaler added: "Signal has been a true partner through the entire start-up process and continues to be a key technology partner of OilX."
He said his company was provided with data and technology, combined with capital and strong commercial advice.
Signal Group was set up in 2014 with offices in London and Athens, offering commercial ship management services to a pool of aframaxes.
Venture capital is becoming more important for shipowners as they seek first advantage in new technologies.
Mitsui OSK Lines of Japan set up a $39m fund last month to back start-ups, while Idan Ofer's Eastern Pacific Shipping is into its second year of a similar programme.
