Dragon Capital Enters Into Agreement To Buy Minority Stake In ShipNEXT
Dragon Capital Investments Limited, a member of the Dragon Capital group of companies, has entered into an agreement to buy a minority stake in ShipNEXT.
ShipNEXT is an online maritime shipping marketplace, which is designed to revolutionize the global shipping industry by bringing it up to speed with the rapid digital transformation witnessed in other sectors of the economy. Dragon Capital will support ShipNEXT in its development and help to find partners and investors to accelerate the business’ growth.
ShipNEXT team has used its 20-year experience in shipping to create a product that will transform the currently conservative and inefficient industry with help of technologies such as Al and Machine Learning, Neutral Language Processing and Mathematical/Linear Program.
“Despite the global maritime shipping industry servicing $11.2 trillion worth of cargo and earning estimated $380bn of fees, there is no single effective marketplace dealing with all types of cargos as the industry still lives in the era of email exchange. We believe that great sector knowledge and operational background backed by a strong team of industry practitioners, scientists and IT professionals will help ShipNEXT to set a new standard, making shipping faster, more transparent and cost-efficient,” said Brian Best, Managing Director, Head of Investment Banking, Dragon Capital.
About Dragon Capital