MOL PLUS, the venture arm of Japanese shipping heavyweight Mitsui OSK Lines, is doubling down on maritime tech, committing to Motion Ventures’ second fund.
The Singapore-based venture firm is targeting $100m for Fund II — more than five times the size of its first fund launched in 2021 — with MOL PLUS returning as a backer after supporting the initial vehicle.
Motion Ventures has built a niche as one of the few venture capital players focused purely on shipping and maritime, spanning areas from ports and logistics to vessel operations and supply chains.
The new fund will broaden its reach beyond software into hardware and deep tech, including autonomous systems, next-generation propulsion and energy solutions, as well as tools aimed at easing crew shortages and improving efficiency.
MOL PLUS said it plans to play an active role beyond capital, offering its fleet and operations as testing grounds for startups, while also exploring commercial tie-ups across the portfolio.
The two sides have already worked together on co-investments and industry partnerships following Fund I, helping to build out a wider maritime startup ecosystem.
“Autonomous systems, next-generation propulsion, AI-driven logistics — the maritime industry is shifting fast,” said Motion Ventures founder Shaun Hon, pointing to a growing need for early-stage backing in the sector.
MOL PLUS chief executive Takuya Sakamoto said the partnership has helped bring together shipowners, investors, startups and regulators to tackle industry challenges more directly.
