BCG Digital Ventures and MISC announce co-investment in three ventures to revolutionize the international shipping industry by improving marine safety and introducing digitalized decarbonization and inventory management, says a press release published on Business NewsWire.
The three ventures
The three ventures are:
- SOL-X : a ship safety tool,
- Chord X : a maritime data analytics company and
- Spares CNX : which provides an automated inventory management solution.
All three ventures are based in Singapore, a critical hub for BCGDV that was recently placed at the top of the IMD World Competitive Center’s ranking in digital competitiveness.
These three separate start-ups differ in their approach, yet together they powerfully demonstrate the transformational power of strategically applying digital and deep tech, such as AI, ML, and IIoT, to create massive operational efficiencies across the shipping value chain in a way that has never been done before.
The ventures will be key drivers for the smart ship, which leverages automation and assistive technologies to ensure safety, efficiency, and environmental sustainability.
Absolutely transformation
“With 90% of the world’s goods transported by ships, and considering the fragmented attempts at innovation, we believe these investments are going to be absolutely transformative to the maritime industry, as well as to industries such as mining, energy, and industrial goods,” said Sid Shah, Managing Director & Partner and Global Leader of BCGDV’s Energy Practice. “We couldn’t be more excited to support these teams on their bold journeys.”
Rethinking approaches
“We are proud to invest in these three digital start-ups, which in many ways allow us to explore available opportunities to harness the power of digitalisation in the maritime industry. The challenges faced by the shipping industry brought about by the global Covid-19 pandemic have forced us to rethink our approaches and operational practices,” said Yee Yang Chien, president of MISC. “I believe that in order for us to move forward, we must be bold in exploring the endless opportunities to further improve operational excellence in various areas including safety and process efficiency.”
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Source: Business NewsWire
