Maritime tech startup Claritecs raised US$600K pre-Series A funding from INNOPORT
Singapore-based maritime solutions startup Claritecs has secured an S$850,000 (US$600,000) in pre-Series A funding from INNOPORT, the corporate venture capital unit of the globally operating ship owner and ship management company Bernhard Schulte. A separate private angel investor from Singapore’s maritime industry also joined as investors.
Wong Hong Lee, CEO of Claritecs said that the company will use the funding to support product development and market roll-out.
Haymon Sinapius, Investment Manager for Asia of INNOPORT, shared, “Since our establishment, we have been seeking out high-potential, early-stage maritime and logistics startups in Europe and Asia for investment, with a view of supporting their scale-up.”
“Claritecs identifies pain points faced by the bunkering industry and addressing them with holistic digital solutions based on their strong domain knowledge.”
Claritecs is a maritime solutions startup that leverages a foundation of maritime expertise to develop digital applications for decision-makers in shipping operations and commercial management.
Claritecs’ suite comprises BunkerMaestro, an algorithm-based SaaS platform that provides data-driven insights for bunker scheduling, aiming to increase work efficiencies and bunker fleet optimisation.
BunkerMaestro tackles the complexities of multiple grades of marine fuels required by ships to meet the IMO 2020 sulfur cap regulation. It taps on real-time data sets from Singapore Maritime Data Hub and MarineTraffic to monitor vessel movements to predict vessel arrival times and bunkering related operations.
In addition to BunkerMaestro, the company said it has also developed Auto Profiling, a tool for quick diagnostics of mass flowmeter bunkering data.
“New product innovation is a key area of focus for Claritecs. We are currently in talks with like-minded partners for possible collaborations so that we can assist our clients in their digital transformation journey,” said Wong.
Claritecs aims to raise its Series A round by the first quarter of 2020 to support its international expansion and future product development.