OpenTug secures $2.2 million investment to advance barge logistics

Maritime logistics software company OpenTug, Seattle, has secured a $2.2 million strategic investment led by venture capital firm, TMV, New York. This funding round brings OpenTug's total capital raised to $5.3 million and is expected to accelerate the company's efforts to enhance efficiency in barge transportation.

The investment is intended to bolster OpenTug's flagship products, BargeOS and LinerOS, which provide automation, real-time tracking, and optimized coordination for the inland and coastal barge sector. With the additional funding, OpenTug plans to further integrate artificial intelligence and operational optimization into its platform, enhancing visibility and efficiency in maritime freight movement.

"Waterborne freight is the future," said OpenTug co-founder and CEO Jason Aristides. "This investment validates our progress and the enormous potential in digitalizing marine logistics. With TMV’s support, we're committed to transforming freight transportation from major coastal ports to the smallest inland terminals."

The funding will also support hiring initiatives in engineering, product development, and customer success, strengthening OpenTug's position as a digital infrastructure provider for maritime logistics.