Orca AI, an Autonomous shipping startup has raised $23 million in a fresh funding round led by OCV  Partners and Mizmaa Ventures. TechCrunch reports the total raised amount by Orca AI from Series A  and Series B is around $40 million. Orca’s platform uploads all data to the cloud, providing monitoring  tools for individuals to work.  

This startup claims to be the world’s first AI-based commercial ship in Congested waters. Founded in  2018 by Yarden Gross and Dor Raviv, the company offers a platform that processes Multiple sources of  visual information during navigation at sea. This technology helps ships to go on the designated route  without the help of crew to monitor the route. This is helpful during times of emergency and situations like drone attacks.  

Orca AI will use this funding to scale up and expand in other parts across the global market. In addition, the company will also work on creating new products and fetching data while expanding the team. The  startup claims that its technology is very accurate and has reduced close encounters by 33% and  crossing events by 40%. The system designed by this startup can carry over $1000,000 to $300,000 in  fuel savings per vessel each year. Recently, shipping has been under pressure to reduce its carbon  footprint, and amidst this, the startup claims to have achieved a CO2 reduction.  

The technology designed by this startup provides safety and can be optimized and automated,  reducing the workload and amount of people needed. According to a report by Techcrunch, the  Managing Partner of OCV mentioned that Maritime transportation is the most crucial part of  international trade and the global economy. More than 80% of the volume of international trade in  goods is carried by Sea. The planes, and automobile industry is seeing progress and investment  regarding autopilot and collision prevention, but the shipping industry is still behind it and that’s the  reason this startup was made. They focus on autonomous ships and work with global shipping  companies including Maersk, NYK, MSC, and Seaspan. The startup competes with Avikus and Sea  Machines. 

Conclusion: 

Orca AI, a London-based Autonomous shipping startup has raised $23 million in a fresh funding round.  The round saw the participation of many investors and was led by OCV Partners and Mizmaa Ventures. TechCrunch reportsthe total raised amount by Orca AI from Series A and Series B is around $40 million. Orca’s platform uploads all data to the cloud, providing monitoring tools for individuals to work.

Orca  AI will use this funding to scale up and expand in other parts across the global market. In addition, the  company will also work on creating new products and fetching data while expanding the team. The  startup claims that its technology is very accurate and has reduced close encounters by 33% and  crossing events by 40%. The technology designed by this startup provides safety and can be optimized and automated, reducing the workload and amount of people needed.