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Motion Ventures Launches $100m Fund for Maritime Tech Innovation
By Adedapo Adesanya
Motion Ventures has unveiled its $100 million second fund named Motion Ventures Fund II or Fund II, which is now the largest maritime-focused tech fund to boost the sector’s value chain.
According to a statement, the new fund will help back startups developing more asset-intensive hardware solutions in the maritime sector which has seen growing corporate demand for deeper, faster progress in sustainability, vessel operations, and port modernisation.
Over the next 18–24 months, Fund II aims to deploy cheques of $250,000 to $10,000,000 into at least 25 companies, targeting solutions that digitise and decarbonise the global maritime supply chain.
To date, Motion Ventures has raised more than half of Fund II’s target with investments already deployed in OceanScore and Fernride which builds on the proven track record of Motion Ventures’ inaugural fund.
Motion Ventures Fund I has already generated two profitable exits, placing the firm in the top 10% of 2021 vintage VC funds globally. The firm’s broader deal pipeline is underscored by a rigorous investment process, which has seen them evaluate more than 8,000 startups since its inception in 2021.
These developments cement Motion Ventures position as maritime’s most active investor, having done more than 30 investments across Fund I and Fund II, while expanding its industry consortium to 17 major maritime and supply chain stakeholders across both funds—the broadest partnership of its kind.
Motion Ventures aims to be the catalyst that transforms global maritime supply chains, now backed by the largest dedicated fund in the sector’s history. The maritime digitisation market alone is projected to reach $423.4 billion by 2031, and mounting pressure from regulators and customers alike demands faster progress.
Based on this, Fund II will harness that momentum, uniting startups and industry leaders to deliver cleaner, more efficient operations and, ultimately, shape the future of maritime commerce.
Speaking on the development, Mr Shaun Hon, Founder and General Partner of Motion Ventures said, “We launched Motion Ventures with the belief that maritime is entering a new era—one where technology, capital, and industry collaboration converge to redefine the sector’s trajectory. In recent years, we’ve seen digitalisation and decarbonisation shift from ideas to industry imperatives.
“Fund II goes beyond writing bigger checks; it’s about uniting the right founders, corporate leaders, and strategic allies to accelerate an industry-wide shift, ensuring that solutions can be tested, adopted, and scaled faster than ever before.”
On his part, Mr Nakul Malhotra, Vice President – Emerging Opportunities Portfolio at Wilhelmsen Group said being part of Motion Ventures’ journey from a concept into one of the most active maritime investors has been remarkable.
“We value industry collaboration and are impressed to see the dedication and focus they bring to the early-stage venture capital space for an industry that is hungry for innovative solutions with robust value propositions. With Fund II, they’re scaling that impact even further, and we’re proud to remain a cornerstone partner on this journey.”
Adding his input, Mr Albrecht Grell, Managing Director of OceanScore said, “Maritime is the backbone of commerce, but it’s time to move faster and bolder, especially when building digital solutions in the compliance space.
“Shaun and the Motion Ventures team get that. Having them on our cap table has fast-tracked our expansion into new markets and helped to unlock access to a strategic network within the shipping community. With their support and deep sector expertise, we’re on track to building our global leadership in maritime compliance solutions.”
Mr Jan Holm, Advisor to Motion Ventures added that “By pairing ambitious founders with strategic backers, Fund II represents a crucial step forward: bringing together fresh solutions, both digital and hardware-based, and fast-tracking their path to scale. It’s a boost this industry has been waiting for.”
This consortium-driven approach is the cornerstone of Motion Ventures’ value creation. The Motion Ventures Alliance, a network of over 80 seasoned maritime executives, provides portfolio companies with expert mentorship, enterprise access, and swift pilot opportunities.
By Adedapo Adesanya
Nigeria recorded 57 recorded cases of electricity-related mishaps, according to the latest electricity sector data released by the Nigerian Electricity Regulatory Commission (NERC).
The data, which covers the third quarter of 2025 (Q3 2025), spotlighted how 33 people lost their lives and another 33 sustained various degrees of injuries in power-related accidents across the country.
According to the Q3 2025 report, a total of 57 power-related accidents were reported across the country during the period under review.
The accidents were spread across several distribution zones, with Ikeja and Kano electricity distribution areas recording the highest number of incidents during the quarter.
Both zones reported 10 accidents each. Ikeja also recorded six injuries and four deaths, while Kano posted six deaths and four injuries.
While Abuja, Jos, Aba, Port Harcourt, Enugu, and Yola recorded varying but still troubling levels of incidents, Eko, Kaduna, and the Transmission Company of Nigeria (TCN) also featured prominently. In many of these cases, accidents resulted in either severe injuries or fatalities, or both.
Unsafe acts and hazardous conditions accounted for the highest number of injuries and tied for the highest number of fatalities, while wire snaps emerged as one of the deadliest hazards, accounting for 10 fatalities and seven injuries during the quarter.
The report noted that 10 deaths and 18 injuries were attributed to unsafe practices or conditions, pointing to a mix of human error, poor safety culture, and inadequate enforcement of operational standards by licensees.
Illegal or unauthorised access to electricity installations also contributed to the casualty figures, leading to two fatalities and three injuries during the period under review.
Vandalism, while responsible for fewer casualties in the quarter, still resulted in two deaths.
The report also noted that the TCN recorded four cases of damage to property and infrastructure arising from explosions, fire outbreaks, or acts of vandalism during the quarter.
However, NERC said it initiated investigations into all reported accidents and signalled its intention to enforce appropriate actions where necessary.
The regulator said it organised periodic health and safety managers’ meetings aimed at improving safety performance across the industry, where it brings together health and safety officers from electricity companies to review incident reports, share lessons learned, and identify areas requiring urgent improvement.
During the period under consideration, the regulator disclosed that it supervised the successful conclusion of two compensation negotiations between electricity companies and families of victims, an indication of ongoing efforts to address the aftermath of such incidents.
However, the report showed that in the previous quarter (Q2), 38 fatalities were recorded, 19 persons were injured, and 60 accidents were reported.
“Relative to 2025/Q2, the number of accidents decreased from 60 to 57, the number of fatalities decreased from 38 to 33, but the number of injuries increased from 19 to 33,” the NERC report stressed.
“During the quarter, all the accidents occurred at the distribution level, i.e., neither TCN nor any of the Gencos recorded safety accidents. Although all Discos recorded casualties, the licensees with the highest number of casualties out of the total 66 recorded during the quarter are Ikeja and Kano (10), Eko and Kaduna (8), representing 15.15 per cent and 12.12 per cent of the total, respectively.
“This quarter continues the trend of the distribution sub-segment being the biggest driver of safety accidents in the sector. Discos accounted for 93.33 per cent, 100 per cent, and 100 per cent in 2024/Q4, 2025/Q1, and 2025/Q2, respectively,” the NERC report pointed out.
By Modupe Gbadeyanka
Contrary to reports making the rounds, the Akwa Ibom State House of Assembly is not considering passing a bill to make it a criminal offence for single ladies having romantic affairs with married men in the state.
On Monday, unconfirmed news went viral, purporting that a phantom Deputy Governor of Akwa Ibom State, Mrs Akon Etim, had sponsored a bill to ensure single ladies having sexual relationship with married men spend 10 years in prison, while the men pay a fine of N2 million.
It was claimed that the bill was to be passed by the state parliament, today, Tuesday, January 13, 2026.
Business Post reports that the Deputy Governor of Akwa Ibom State is Mrs Akon Eyakenyi, not Mrs Akon Etim.
Reacting to the reports, the chairman of the House Committee on Information, Mr Jerry Anson Otu, described the reports as “false.”
“The Akwa Ibom State House of Assembly wishes to categorically state that this report is entirely false and has no basis in fact. The Assembly has not received or considered any such bill, and the Deputy Governor has not sponsored it.
“We condemn this malicious attempt to tarnish the image of the Deputy Governor and the Assembly, and urge the public to disregard this fake news and any associated commentaries.
“The House remains committed to its constitutional role of law-making, and will not be swayed by mischievous attempts to undermine its integrity,” parts of the statement issued by the parliament stated.
By Adedapo Adesanya
Nigeria is eyeing stronger diplomatic and strategic ties when it comes to sustainable development as it participates in the 2026 edition of Abu Dhabi Sustainability Week (ADSW).
President Bola Tinubu arrived in Abu Dhabi, United Arab Emirates (UAE), on Sunday. His plane landed at the Presidential Wing of Zayed International Airport at exactly 11:30 pm local time.
He was received by Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs; the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi; Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar; and members of the Nigerian diplomatic mission in Abu Dhabi.
Several other ministers, including the Minister of Budget and Planning, Mr Atiku Bagudu; the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole; and the Director-General of the National Intelligence Agency, Mr Mohammed Mohammed, welcomed President Tinubu at his hotel.
President Tinubu arrived in Abu Dhabi from Europe, where he spent part of his end-of-year break, engaging in fruitful discussions with Rwandan President Paul Kagame and French President Emmanuel Macron, according to a statement by the presidency.
The 2026 Abu Dhabi Sustainability Week, with the theme The Nexus of Next, All Systems Go, is a global platform that brings together world leaders, policymakers, investors, and experts to advance dialogue and action on sustainable development, climate action, energy transition, and inclusive economic growth.
This visit further reinforces the strong diplomatic and economic ties between Nigeria and the United Arab Emirates (UAE), while positioning Nigeria as an active contributor to global conversations on sustainable development.
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