Orca AI Secures $72.5 Million to Advance Autonomous Shipping Technology

>Orca AI, a London-based company, develops AI-powered decision-making and autonomous capabilities for maritime vessels. It has the momentum and the growth to prove it, recently raising $72.5 million in its Series B funding round. Brighton Park Capital is the sole lead investor in this round. It’s just the latest in an overall financing round which has allowed the young company to raise more than $111 million since early 2018. CEO Yarden Gross and CTO Dor Raviv started Orca AI to change the shipping industry, which is currently facing a severe crisis. With their mission centered on safety first and operational efficiency second.

Orca AI works in the growing autonomous navigation market, expected to reach $11 billion by 2028. This fast-growing field presents enormous possibilities for creativity and development. The company uses a marine visual dataset of more than 80 million nautical miles to improve its autonomous navigation technology. This system has been shown to decrease dangerous close encounter events between vessels by 54%. For them, that means that each vessel saves approximately $100,000 in annual fuel costs.

Congratulations Orca AI on your successful raise! They haven’t just stopped there, given their hard work in the defense sector too, securing their first contract to have them deployed on a navy ship. This shift highlights the many ways Orca AI’s technology is adaptable. It gives ships the ability to sail on their own, reducing fuel use and saving precious time.

This latest funding round follows a $23 million Series B successful raise from last year. This trend is indicative of the growing appetite from investors for autonomous maritime solutions. Investors such as OCV Partners and Mizmaa Ventures have played a significant role in supporting Orca AI’s development and expansion.

Orca AI’s growth trajectory has exploded. Much of this increase can be directly attributed to the rapid growth of Starlink, SpaceX’s low earth orbit satellite internet constellation. Additionally, Starlink enables real-time data transmission, which is essential for dynamic route mapping. Enhanced traffic monitoring via the technology provides safer, more efficient autonomous navigation.

“Starlink enables us to collect data at scale directly from the ship sensor. We see that as a huge opportunity,” – Yarden Gross

Orca AI is creating a splash in the autonomous navigation sector. It’s facing fierce competition from others such as Avikus, a subsidiary of the Hyundai HD, and Sea Machines. Yet, as Gross is quick to point out, the goal is still to go farthest in the commercial sector.

“The main business still is in the commercial sector. We already have collaborations and POCs,” – Yarden Gross