Harbor Lab secures €6.1M to make shipping dock more easily and cheaply

Share Story on

When a ship goes into a commercial port, there are lots of port call-related costs. These are called things like ‘disbursements’ and ‘port call expenses’. They can include, port dues, towage and pilotage fees, which, added together can represent are large swathe of operating costs, after fuel, for a ship operator.

Most of the time, companies are using manual processes and excel spreadsheets sheets to deal with all this. But now a Athens, Greece startup Harbor Lab has come up with a solution.

Its platform claims to streamline the disbursement account processes and identifies discrepancies, reducing port call expenses by approximately 6% per port call, and reduces administration costs by up to 75%.

It’s now secured €6.1 million in funding to further develop its platform.

The SaaS disbursement account analysis software calculates and evaluates port expenses against real-time port tariffs.

VentureFriends and Speedinvest led the Seed funding round, with participation from additional investors including The Dock, Signal Ocean, Motion Ventures, TecPier, Innoport, Charge VC, and tech founders including Alexandros Chatzielftheriou founder of, Blueground.

“Harbor Lab was born out of a real time need to automate the processing of disbursements (payments to port authorities and other port related suppliers) while reducing manual intervention and heavy administration. The way we do it is by collecting the official port tariffs directly from the port authorities and then inputting those in our internally developed algorithm.Through that we calculate accurately and dependably every port expense based on terminal, berth and a number of other parameters,” said HarborLab CEO and founder, Antonis Malaxianakis.

“We are very excited to support Harbor Lab in its quest to expand globally while establishing their footprint in major maritime hubs like Copenhagen and Singapore. We are also keen to see the product develop with the utilization of machine learning to digitalize ports around the world making shipping more efficient,” added Apostolos Apostolakis, Partner at VentureFriends, in a statement.

Habor Lab launched March 2020. The maritime disbursements industry is estimated to be worth $200 billion annually.

VentureFriends is a European early-stage VC that has offices in London, Warsaw and Athens, currently investing out of its 3rd fund of €100 million. Speedinvest has more than €600M AuM and 40 investors based in Berlin, London, Munich, Paris, and Vienna. It also won a Europas award this year as the hottest European VC.

Harbor Lab secures €6.1M to make shipping dock more easily and cheaply by Mike Butcher originally published on TechCrunch



Search By Category

Recent News

You May Also Like

‘My Company is My Family; My Family is not My Company’, proponent Govindkaka of Shree Ramkrishna Exports Pvt. Ltd honoured with 2022 Hurun Most Respected Family Business of the Year Award

‘My Company is My Family; My Family is not My Company’, proponent Govindkaka of Shree Ramkrishna Exports Pvt. Ltd honoured with 2022 Hurun Most Respected Family Business of the Year Award

Renowned Diamond Baron, Visionary, Industrialist, and Humanitarian, Shri Govind Dholakia sounds stimulating when he says “Our Company has been made into a Family; We haven’t

CricAdda and Sanjay Dutt: A winning combination for sports fans and gamers

CricAdda and Sanjay Dutt: A winning combination for sports fans and gamers

New Delhi (India), February 4: CricAdda, the online sports and fantasy gaming brand, announced that Indian film actor & renowned celebrity Sanjay Dutt has joined

Sakhiya Skin Clinic is India’s No. 1 skin clinic chain

Sakhiya Skin Clinic is India’s No. 1 skin clinic chain

The clinic has performed more than 3 lakh+ safe and painless laser hair removal procedures. Surat (Gujarat) [India], February 4: With more than 3 lakh+ safe

Aditya Prakash, Bollywood Actor and Writer shares his secret of a happy & successful life

Aditya Prakash, Bollywood Actor and Writer shares his secret of a happy & successful life

New Delhi (India), February 4: We caught up with Bollywood Actor and Writer, Aditya Prakash where he spoke about his personal life, movies, his love for old

Darshan Aulakh started his film journey as an actor, today apart from acting, he has also made his own identity in film direction and singing

Darshan Aulakh started his film journey as an actor, today apart from acting, he has also made his own identity in film direction and singing

New Delhi (India), February 4: Darshan Aulakh is a well-known name in Bollywood apart from Punjabi films. Aulakh who made his debut as an actor has also

On This ‘WORLD CANCER DAY’: 8 Best Oncologists Share Their Advice on Increasing Risks of Cancer

On This ‘WORLD CANCER DAY’: 8 Best Oncologists Share Their Advice on Increasing Risks of Cancer

New Delhi (India), February 4: Every year on February 4th, World Cancer Day is observed to raise awareness about the disease and its prevention. Cancer is the