An Israeli company called Orca AI has raised $23 million to develop technology for autonomous ships. During its four investment rounds since its creation in 2018, the company has raised a total of $40 million. OCV Partners and Mizmaa Ventures led the current round, which included participation from all current investors as well as new investors, including American firms Ankona Capital Partners and Santa Barbara Venture Partners. Following its 2023 extension round, which was carried out at a slightly higher value, the company has now raised further funds.
Orca AI was founded by CEO Yarden Gross and CTO Dor Raviv. Both of Orca AI’s founders were sailors in the Israeli Navy in the past and the firm continues to work with the Israeli Navy while also expanding into the commercial marine sector and the global governmental and military arenas. Unrelated to the cyber company Orca, the company employs 70 people, most of whom are based in its Tel Aviv offices. It is believed that the corporation made more than $10 million in revenue.
The automatic watchkeeper at the center of Orca AI’s system is designed to identify objects in marine space and rapidly notify the navigation team so they can take appropriate action. The technology, which is already on board ships run by well-known corporations like MSC and Maersk, lowers the frequency of maritime mishaps, improves sailing and consequently lowers fuel usage and air pollution. Like the technologies created by Mobileye for cars, the technology is intended to increase the autonomy of ship navigation.
The Orca AI system can operate semi-autonomously at the moment, but the company is working on items that will allow full autonomy. In 2022, Orca AI technology, in partnership with the massive Japanese shipping company NYK, made it possible for the first autonomous merchant ship to sail 400 kilometers near the coast of Tokyo with minimal human help. The company’s completely autonomous ship project is currently in its second phase, which is expected to be completed in 2025.
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