CSL invests in maritime startup to drive digital transformation in shipping sector

Cochin Shipyard Limited has invested in Maritech Integrated Maritime Private Limited to promote innovation and digital transformation in India's maritime ecosystem through its USHUS startup initiative.

CSL has signed an agreement to acquire a five per cent stake in Maritech Integrated Maritime Private Limited under its startup initiative, USHUS.

The investment is aimed at promoting innovation and digital transformation in India's maritime ecosystem.

The Kochi-based shipbuilding company said on Thursday that the investment forms part of its broader effort to support technology-driven startups in shipping, logistics and allied maritime services.

In a statement, Cochin Shipyard Limited said it had earmarked Rs 50 crore under the USHUS programme to support startups operating in the sector.

The programme is being implemented in partnership with IIMK LIVE and Indian Institute of Technology, Madras.

Maritech Integrated Maritime Private Limited, a deep-tech startup based in Dehradun, has developed the Integrated Maritime Exchange (IME), a digital platform designed to connect maritime stakeholders and streamline logistics and port-related services.

According to CSL, the platform has the potential to evolve into a unified digital marketplace by improving efficiency, transparency and coordination across the maritime value chain.

The company said the investment reflects its commitment to promoting innovation, entrepreneurship and indigenisation in line with the Government of India's vision for the maritime industry.

A CSL spokesperson said the initiative is expected to accelerate the digitalisation of maritime trade and logistics in the country while supporting emerging technologies that could strengthen India's maritime ecosystem.