Orca AI, a prominent player in the maritime technology sector, has announced the successful completion of a $72.5 million Series B funding round. The investment was led by Brighton Park Capital, with continued support from existing investors Ankona Capital and Hyperlink Ventures, reports Orca AI.
AI-Powered Decisions
Founded in 2018 by CEO Yarden Gross and CTO Dor Raviv, Orca AI is making significant changes in the often traditional and less transparent shipping industry by introducing AI-powered decision-making tools and capabilities for autonomous shipping. The company has amassed the world’s largest marine visual dataset, compiled from over 80 million nautical miles of real-world voyages. This extensive dataset, driven by advanced AI and computer vision technology, forms the basis for exceptional situational awareness in ocean navigation. It helps captains and crews identify potential risks and targets that might be missed by human observation alone. By providing AI-driven alerts and recommendations, Orca AI significantly reduces the likelihood of collisions, which can have severe economic and human consequences, allowing crews to concentrate on the most critical aspects of their voyages.
Orca AI’s technology leads to substantial improvements in both operational decision-making and voyage safety. A 2024 analysis of Orca AI’s alert system demonstrated a 54% reduction in close encounter events, enhancing overall safety and decreasing associated accelerations. This, in turn, resulted in an average fuel saving of $100,000 per vessel annually, translating to an estimated total reduction of 195,000 tons of CO2 emissions in 2024.
Yarden Gross, CEO and Co-Founder of Orca AI, stated, “At Orca AI, we are constantly pushing the boundaries of what is possible when AI supports human decision-making at sea. Over the past two years, ships have become increasingly connected to the cloud, enabling large-scale data collection and unlocking the potential of AI. Orca AI is leading this transformation, deploying advanced AI technologies that make vessels smarter, safer, and more automated. We are grateful to have forward-thinking investors who, like us, can see how the advancements in AI and connectivity are opening up new opportunities to enhance autonomous shipping, which will define the future of maritime operations.”
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Source: Orca AI
