TLDR:
- Atomico, a European venture capital fund, invests $16 million in Greek startup Harbor Lab to digitize the shipping industry.
- Harbor Lab has raised a total of $22.5 million since its founding in 2020 and aims to streamline port expenses management.
Atomico, a European venture capital fund managing $4.5 billion, has decided to invest in Harbor Lab, a Greek startup focused on digitizing the shipping industry. Ben Blume, a partner at Atomico, highlights the founder’s vision, market opportunities, powerful product, valuable dataset, and developed algorithms as key factors in their decision to invest $16 million in Harbor Lab. This marks Atomico’s first investment in Greece, showcasing their belief in the potential of European companies.
Founded in 2020, Harbor Lab has already raised a total of $22.5 million in funding. The company’s platform aims to digitally manage port expenses, which are the second largest expense for shipping companies after bunkering, reaching approximately $2.2 million per ship per year. By streamlining processes with their DA Tool, Harbor Lab aims to provide a comprehensive view of total port call costs, reducing bureaucratic hurdles and improving operational efficiency.
The recent investment round includes participation from existing investors like Notion Capital, VentureFriends, and Speedinvest, as well as new investors such as Endeavor Catalyst and TMV. With a focus on further developing their platform and investing in technologies like artificial intelligence, Harbor Lab expects to continue growing its team of over 70 employees and address evolving challenges in the shipping industry.
