Orca AISecures $72.5M for Its Autonomous Shipping Solution, Powered by Defense Partnerships and Starlink

The autonomous navigation market, where vessels use AI for self-steering to save on fuel and time, is projected to exceed $11 billion by 2028. As a result, companies in this field are seizing the opportunity. Recently, Orca AI secured $72.5 million in a Series B funding round led by Brighton Park Capital, with support from current investors Ankona Capital and Hyperlink Ventures. The London-based company has raised over $111 million to date, including a $23 million round last year.

What was the catalyst for this funding? The answer lies in defense.

Founded in 2018 by CEO Yarden Gross and CTO Dor Raviv, Orca AI utilizes AI-driven decision-making with autonomous features for ships, backed by a marine visual dataset that spans over 80 million nautical miles. The integration of AI in navigation aims to significantly reduce collision risks, freeing crews to focus on other aspects of their journeys.

“Our primary focus continues to be the commercial sector. We have established partnerships and proof of concepts,” Gross explained to TechCrunch. “However, we are also exploring defense opportunities with navies around the globe looking for efficient, cost-effective assets that require minimal human supervision. We have already secured our first defense contract, which is in operation on a navy vessel,” he added.

Orca’s growth is further bolstered by the expansion of Starlink, which facilitates real-time data transfer for route mapping, traffic monitoring, and communication of critical information.

“Starlink enables us to collect data at scale directly from ship sensors. We see this as a major opportunity,” Gross commented.

The company reports that a 2024 assessment of Orca AI’s alert system revealed a 54% reduction in close encounter incidents, equating to an average fuel savings of $100,000 per vessel per year.

Other players in the autonomous maritime navigation space include Avikus (a Hyundai HD subsidiary) and Sea Machines.