OpenTug, a maritime logistics software platform, announced a $2.2 million strategic investment led by TMV. This latest funding round brings OpenTug’s total raised to $5.3 million, building on the $3.1 million previously raised.
The investment strengthened the momentum behind OpenTug’s flagship offerings BargeOS and LinerOS – which bring automation, real-time visibility, and intelligent coordination to the massive barge transportation market. And the $2.2 million investment will accelerate product development and deepen OpenTug’s focus on AI, optimization, and seamless operations across the inland and coastal shipping ecosystem. To accomplish this, the company will hire top talent in engineering, product development, and customer success.
By enhancing its team and footprint, OpenTug is poised to become the default digital infrastructure for maritime freight, empowering the industry to move goods with unprecedented efficiency and visibility. This additional funding builds on OpenTug’s strong momentum in the past year. And as global supply chains seek more resilient and sustainable transportation modes, OpenTug’s digital platform is increasingly seen as a key solution for shifting cargo from congested highways to the “blue roads” of rivers and coasts.
KEY QUOTES:
“We believe the future of freight is on the water. This strategic investment is a testament to our team’s progress and the vast opportunity ahead. With TMV’s support and deep domain expertise, we’ll accelerate the digital transformation of marine logistics – from big coastal ports to the smallest inland terminals. OpenTug is determined to maximize every nook and cranny of our nation’s marine highway system for freight movement. We are laser-focused on our mission to help barges move the earth, and we’re just getting started.”
- Jason Aristides, co-founder and CEO of OpenTug
“OpenTug is transforming an industry that’s long overdue for digitization. By bringing modern technology to this critical sector, they’re helping operators and shippers move goods more efficiently and sustainably. We’re delighted to join them on their journey.”
- Marina Hadjipateras, co-founder and general partner at TMV
