KUALA LUMPUR, Aug 17 (Bernama) -- BCG Digital Ventures (BCGDV), the business-building and corporate innovation arm of Boston Consulting Group (BCG), has announced its previous investment in three ventures namely, SOL-X, Chord X, and Spares CNX.
With the objective of disrupting the shipping industry, BCGDV has also announced that the three maritime ventures are joining its broader portfolio of innovative businesses and products with the backing of BCGDV and leading international shipping company MISC Group.
“With 90 per cent 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 Managing Director & Partner and Global Leader of BCGDV’s Energy Practice, Sid Shah.
Meanwhile, President/Group Chief Executive Officer of MISC, Yee Yang Chien said: “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.”
BCGDV’s investment was made last year while the ventures were in stealth mode to allow for a deeper focus on business development activities, including staffing, product development, and target market acquisition.
According to a statement, the ventures will be key drivers for the smart ship, which leverages automation and assistive technologies to ensure safety, efficiency, and environmental sustainability.
The Ventures, SOL-X is redefining maritime safety by creating an industry-first Safety 4.0 company centered on human factors; Chord X is a maritime data analytics company; while Spares CNX is reinventing the shipping supply chain by providing an automated inventory management solution that can track the life cycle of spare parts on shore and across the fleet.
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.
-- BERNAMA
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