The autonomous navigation market, which is operated by AI-led ships and saves fuel and time, is projected to sail beyond $11 billion by 2028. As a result, companies in this sector are pushing open doors. The latest is Orca AI, which closed the $72.5 million Series B funding round led by Brighton Park Capital. Existing investors Ankona Capital and Hyperlink Ventures also participated. The London-based company has raised more than $111 million, including last year’s $23 million funding.
So what drove the new round? In a nutshell, defense.
Founded in 2018 by CEO Yarden Gross and CTO Dor Raviv, Orca AI applies AI-powered decision-making and autonomy capabilities to ships based on a marine visual dataset of over 80 million nautical miles. Using AI for navigation can significantly reduce collisions and allow crews to focus their attention on other aspects of the voyage.
“The main business is still in the commercial sector. There is already collaboration and POC,” Gross told TechCrunch. “But we see defense opportunities coming from navys around the world, with a focus on autonomy,” he said, “if they want more cost-effective assets that can operate more efficiently with less human intervention. We have already signed the first contract in the field of defense deployed on naval vessels.”
ORCA’s growth also benefits from Starlink’s expansion. This allows real-time data to be sent to ORCA AI for mapping routes, traffic monitoring, and sharing of critical information.
“With Starlink, you can collect data at scale directly from ship sensors, and I think that’s a great opportunity,” Gross said.
The company claims that a 2024 analysis of ORCA AI’s alert system showed a 54% reduction in close encounter events that save an average of $100,000 in fuel per ship per year.
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Other companies working on autonomous voyages at sea include Avikus (a subsidiary of Hyundai HD) and marine machinery.