Commercial ships are getting closer to becoming fully autonomous.
What’s happening:
- Autonomous navigation startup Orca AI has raised $23M in a new funding round
- The round was led by OCV Partners and MizMaa Ventures
The big idea:
- Orca AI uses computer vision technology and artificial intelligence to enable commercial ships to navigate shipping routes completely autonomously
- Through data analysis and machine learning, Orca AI is also aiming to be able to reduce maritime accidents and bolster operational safety for commercial ships
Going deeper:
- Orca AI has multiple existing partnerships with large shipping companies globally, including MSC, NYK, Seaspan and Maersk
- Ocra AI’s technology is also able to significantly reduce the total amount of fuel used by ships by leveraging visual data around sea conditions and weather patterns, which could accelerate commercial ships lowering their total carbon emissions
By the numbers:
- Orca AI’s technology is capable of reducing the total gas consumption of an operating commercial ship by 3-5% per year
- Orca AI has raised approximately $40M USD in venture capital funding since inception and currently has integrated their technology into 1000 operating commercial ships
The intrigue:
- Orca AI has publicly stated that they are the first company ever to complete a commercial shipping route autonomously in congested waters
