Orca AI Secures $23M to Propel Autonomous Shipping
May 30, 2024
Tel Aviv, Israel — Orca AI, a leading provider of AI-powered maritime navigation solutions, has raised $23 million in a Series B funding round to advance its autonomous shipping technology. The round was led by OCV Partners and Mizmaa Ventures, with participation from Ankona Capital Partners, Santa Barbara Venture Partners, Playfair Capital, and other strategic investors. (Tech Funding News, AIPressRoom)
Founded in 2018 by naval technology experts Yarden Gross and Dor Raviv, Orca AI offers a platform that enhances voyage safety, operational efficiency, and sustainability for ships and fleets. Its automated situational awareness system, SeaPod, supports watchkeepers by detecting and tracking objects at sea, day or night and in all weather conditions. (AI Insider, Seatrade Maritime News)
In 2022, Orca AI powered the world’s first autonomous commercial ship voyage with NYK and is now working on the second phase of fully autonomous ship technology to be rolled out in 2025. (Orca AI)
The company’s technology has demonstrated significant impact on maritime safety and efficiency. In 2023, working with major shipping companies including MSC, NYK, Maersk, and Seaspan, Orca AI’s platform reduced close encounters by 33% and crossing events by 40% across 15 million nautical miles. These improvements translated to an average fuel saving of $100,000 to $300,000 per vessel per year (3-5%) and a reduction of 172,716 tonnes of CO₂ emissions. (AI Insider, SAFETY4SEA)
Orca AI’s platform also enhances maritime security by enabling proactive threat mitigation from diverse threats such as drone attacks and piracy. By empowering vessel personnel to anticipate and counteract these risks, the technology bolsters vessel security and protects crews and sensitive cargo. (Orca AI, BusinessCloud)
The recent funding will enable Orca AI to invest further in technology development, expand internationally, and contribute to reducing maritime carbon emissions while improving navigational safety and efficiency. (AIPressRoom)
About Orca AI
Orca AI is an Israeli maritime technology company specializing in AI-powered navigation solutions for the shipping industry. Its platform integrates autonomous operational and voyage features into existing vessels, enhancing safety, efficiency, and sustainability. With a growing client base and a commitment to innovation, Orca AI is at the forefront of transforming maritime operations through advanced technology.(AIPressRoom)
For more information, visit Orca AI’s official website.