Innoport Invests in Bunker Solutions Startup Claritecs

Innoport, Bernhard Schulte’s venture capital arm for maritime startups, has invested into Singapore-based maritime solutions firm Claritecs.

Claritecs acknowledged Innoport, together with a separate private angel investor from the Singapore maritime industry, for the securing of SGD 850,000 (USD 600,000) in its pre-Series A fund raising round.

“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,” Haymon Sinapius, Investment Manager for Asia of Innoport, said.

“Within this short period, their [Claritecs’] flagship development BunkerMaestro has evolved from a proof of concept to a very comprehensive scheduling platform to handle bunker fleet optimisation and the complexities of multiple grades of marine fuels required by ships to meet the IMO 2020 sulphur cap regulation.”

“Besides BunkerMaestro, we have developed Auto Profiling, a tool for quick diagnostics of mass flowmeter bunkering data, which will hit the market concurrently,” Wong Hong Lee, CEO of Claritecs, added.

“We have garnered strong market validation from many companies within the entire bunker supply chain who are confident that our solutions will address many archaic work processes still being used today.”

Claritecs aims to raise its Series A round by Q1 2020 to support their international expansion and future product development.

Innoport was launched in May this year by ship owner and ship management company Bernhard Schulte with the aim of supporting high-potential early-stage maritime and logistics startups predominantly in Europe and Asia.

The new unit operates from Hamburg, Limassol and Singapore.