Signal links up with Germany’s Flagship Founders on maritime tech startups

Greece’s Signal Group has teamed up with German venture studio Flagship Founders to jointly develop new technology startups for the maritime industry.

As part of the deal, the Ioannis Martinos-controlled Signal is taking a stake in the Berlin-based Flagship Founders and will contribute data and APIs from its Signal Ocean platform to help speed up new venture development. The partnership includes a total investment volume of €2.5m ($2.77m) and complements the €3.5m funding round Flagship Founders closed earlier this year.

Founded three years ago, Flagship Founders has produced four successful startups and its CO2 management venture zero44 most recently closed a financing round.

“Flagship Founders and Signal share the same view of the maritime economy and the success factors for building technology startups,” said Fabian Feldhaus, co-founder and managing director of Flagship Founders.

Signal is an Athens, London and Singapore-based business which runs commercial tanker pools, has developed an AI software platform, and provides investment to early-stage ventures. Its venture building and investment arm Signal Ventures has to date supported 15 startups in the shipping, supply chain and commodities space.

Nikolas Pyrgiotis, vice president of Ventures at Signal, added: “Coalitions like this are important to gain access to new investment opportunities and complement expertise and network reach. We believe that the shipping and technology depth of Signal coupled with data from the Signal Ocean Platform will accelerate the development of Flagship Founders’ ventures and together we will advance venture building for maritime technology startups worldwide.”