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Eastern Pacific Shipping investing in nine more tech start-ups

Photo: Eastern Pacific Shipping Gil Ofer, Eastern Pacific Shipping
EPS Special Advisor for Innovation, Gil Ofer
Eastern Pacific Shipping (EPS) is investing in nine tech start-ups ranging from a company developing the industry’s smartest anchors to one setting up a neo-bank for maritime.

EPS, which has its own start-up accelerator in partnership with Techstars, is investing in seven start-ups through that programme, as well two others from outside the Eastern Pacific Accelerator.

The accelerator started in 2019 and EPS has invested in 18 start-ups to date through the programme. From its third batch of hundreds of applicants EPS has now chosen to invest in seven, as well two from outside the programme.

The shipowner said all nine companies will benefit from the decades of experience within the EPS organisation, including access to mentors, industry experts, potential customers, and additional funding opportunities.

EPS Special Advisor for Innovation, Gil Ofer commented: “Our platform is designed to help entrepreneurs connect with internal and external mentors, customers and investors. The technology only plays one part in our investment decisions. The people behind the tech are more important. We want to see a strong team with visionary, resilient, and passionate founders.

“We like to invest in the people because even if the tech doesn’t work out as a business, we know we have bright individuals who will use that as a stepping stone for the next venture - and we want to be part of that journey.”

The seven start-ups from the accelerator programme applicants are:

Graphite Innovation and Technologies: Uses a patented graphene-based technology to make reductions in hull-fouling.

Marine Edge: Invented technology that extracts more energy from shaft generators on vessels.

Marlo: Building the maritime and transportation industry’s first neo-bank.

Seabound: Building a patented carbon capture solution for the industry

SanChip: The world’s smallest ‘lab-on-a-chip’ that sits on a vessel and analyses its lubricants real-time.

qualiTEAS: Uses computer vision to instantly detect corrosion and damage in the maritime and energy assets.

Sealution: Building the world’s first communication system that can go through the steel walls of a vessel.

The other two start-ups EPS is investing are:

Swiss Ocean Tech: An anchor drag alarm technology owner.

i4sea: A micro-weather prediction specialist

Commenting on the companies it is investing in Dhritiman Hui, who manages the EPS Techstars partnership, said: “Decarbonisation is the shipping industry’s electric vehicle moment. Just like a Tesla came out of left field and outmaneuvered most of the auto industry, we feel similar opportunities will emerge in the shipping industry.

“We are also pleased to have invested in the shipping industry’s first neo-bank. Neo-banks have created tens of billions of dollars of value in the traditional banking industry, and – given the gaps that exist – it’s inevitable that something similar will happen in this industry. Parallel to this, we have invested in companies whose IP is just exceptional.”

The seven new start-ups EPS has invested in under its accelerator programme will be part of a demo day on 17 February.