Motion Ventures, the Singapore-based investment vehicle of European venture builder Rainmaking, completed the first closing of a planned $30 million fund aimed at disrupting shipping and port businesses.

European transport and logistics companies Wilh Wilhelmsen Holding ASA and Hamburger Hafen und Logistik AG participated as anchor investors and were joined by other backers.

Motion Ventures’ debut fund aims to introduce cutting-edge technologies to the maritime industry by bringing large, century-old ship owners and port operators together with budding startups.

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