Orca AI's CEO and co-founder, Yarden Gross, said the company is building a platform that serves the ship itself, uploading all data to the cloud and providing monitoring tools for fleet managers. The company works with global shipping companies including MSC, NYK, Maersk, and Seaspan. The autonomous navigation market, where ships steer themselves guided by AI, is projected to grow from $4.46 billion in 2023 to $5.33B in 2024. Other companies working on autonomous navigation at sea include Avikus, a subsidiary of Hyundai HD, and Sea Machines.
Key takeaways:
- Orca AI, a London-based startup, has raised $23 million in fresh funding for its autonomous navigation technology for ships. The technology uses AI to guide ships, resulting in fuel and time savings.
- The startup claims to have powered the world’s first autonomous commercial ship voyage in congested waters and its system can yield $100,000 to $300,000 in fuel savings per vessel per year.
- Orca AI's platform processes multiple sources of visual information during navigation at sea, keeping the ship on course and freeing up the crew to monitor other aspects of the voyage.
- The company works with global shipping companies including MSC, NYK, Maersk and Seaspan, and competes with other companies working on autonomous navigation at sea like Avikus and Sea Machines.