Written by
Marine Log Workers
Jason Aristides, CEO of OpenTug: “We’re decided to assist the U.S. maritime {industry} maximize each nook and cranny of our nation’s nice marine freeway system.”
OpenTug, the digital transport startup constructed to attach freight with barges and terminals nationwide, stories that it has raised an oversubscribed $3.1 million seed spherical funding.
Led by Entrada Ventures, the funds will likely be used to additional develop the corporate’s industry-leading know-how and develop OpenTug’s community of shippers and repair suppliers to assist America transfer marine freight at unprecedented ranges.
The OpenTug digital maritime market provides shippers entry to 1000’s of barges, tugs, and terminals throughout over 25,000 miles of marine highways, whereas its SaaS platform permits operators to automate their pricing, routing, monitoring, reserving, and advertising.
An growing variety of shippers are becoming a member of the OpenTug community to leverage the Mississippi River, Ohio River, intracoastal waterways, coastal areas, and oceans to search out extra environment friendly methods to maneuver freight.
OpenTug says that it has already onboarded over 30% of US barge capability and 200 terminals. In 2023, the platform helped three million tons of cargo discover its approach to the waterways. Its SaaS companies now assist marine transportation suppliers similar to TOTE Maritime, SEA.O.G, McDonough Marine Service, the Port of Pittsburgh, and others higher serve stakeholders digitally.
This important funding follows profitable pre-seed funding led by SeaChange Fund. Now, OpenTug has the backing of Entrada Ventures, SpringTime Ventures, Stout Avenue Capital, and different strategic buyers. This assist will assist additional. the corporate’s mission to dramatically improve the effectivity and quantity of freight transferring on U.S. waterways by way of know-how connecting terminals, barges, tugs, and ships.
“We’re excited to accomplice with OpenTug to assist carry the tug, barge, and terminal {industry} on-line,” stated Eric Kanowsky, co-founder and managing accomplice at Entrada Ventures.
“We’re decided to assist the U.S. maritime {industry} maximize each nook and cranny of our nation’s nice marine freeway system,” stated Jason Aristides, CEO of OpenTug, who will likely be among the many audio system at Marine Log’s TTB occasion subsequent month. “Our success will assist develop many companies and contribute massively to constructing a resilient provide chain. We’re honored to accomplice with Entrada to speed up this mission.”
