TeamABC, a €30 million Dublin-headquartered travel tech fund, has made its second investment in a month, partaking in a a €2.4 million seed round for Searoutes.
Founded in 2019 in Marseille, Searoutes has developed a digital solution for reducing carbon emissions from freight transport.
Other investors in the round included venture capital firm WEN Beteiligungs, and the European Maritime and Fisheries Fund, which provided a €1.4 million grant.
The investment is TeamABC’s second deal in less than two weeks and its third overall.
It recently backed Coral Viata, a company headquartered in the Bahamas that is focused on creating high-tech coral farms that incorporate breakthrough methods to restore reefs in the most effective way possible.
It has also invested in Yeildin, a French airline revenue management-focused start-up.
TeamABC is headquartered in Dublin and also has offices in Vienna, Dubai and Mexico City.
It was established by Clyde Hutchison, Brian Marrinan and Aurelius Noell, who have extensive experiencing working for airline and/or are experienced investors and start-up experts.