Orca AI is a trailblazer company in autonomous navigation for maritime vessels. They’re well on their way to close $72.5 million in their Series B funding round. Orca AI’s chief executive Yarden Gross and chief technology officer Dor Raviv started the company in 2018. The company is applying artificial intelligence to radically improve the efficiency of the shipping industry. Brighton Park Capital has led the way in this most recent funding round. Accordingly, the company’s overall raising has now crossed $111 million.
Originally founded in Israel, and now mostly operating from London, Orca AI uses a new dataset of marine visuals including over 80 million nautical miles of data. This resource helps the multi-modal company’s novel, cost-effective approach to autonomous navigation—which is a quickly emerging industry expected to top $11 billion by 2028. Orca AI has created navigation technology to make vessels operate independently. Such an innovation brings exciting new operational efficiencies.
The company’s alert system has proven 54% reduction in close encounter events. This innovation equates to an estimated average of $100,000 in yearly fuel cost savings per vessel. The capacity to navigate without human intervention significantly increases the safety and efficiency of maritime operations.
Orca AI has seen this explosive growth as a natural side effect. The growth of Starlink supercharges this trajectory as the service provides access to almost real-time data transmission, essential to route mapping and traffic monitoring. Gross highlighted this advantage by stating,
“Starlink enables us to collect data at scale directly from the ship sensor. We see that as a huge opportunity.”
Orca AI didn’t just focus on commercial opportunities, but has headed deep into defense waters. Recently, it landed its first contract, installing the technology on a US navy vessel. This decision represents the company’s broader desire to diversify its applications and strengthen its presence outside of commercial shipping.
Now Orca AI has set its sights on expanding its defense field prospects. Gross was quick to add that the money is still first and foremost targeted at the commercial sector.
“The main business still is in the commercial sector. We already have collaborations and POCs.”
The autonomous navigation space has become incredibly competitive and cutthroat recently. Significant players such as Avikus, a subsidiary of Hyundai HD, and Sea Machines are already in the throes of developing similar technologies. Yet, given Orca AI’s unique combination of AI and real-time data capabilities, the company finds itself strongly positioned within this rapidly-changing space.
The latest funding round and recent strategic developments seem to underscore Orca AI’s ambition to change the way maritime navigation works through transformational technology. The company is continuing to broaden its capabilities and offerings. Its goal is to set a new standard for ethical operations in the global shipping industry.
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