In the autonomous navigation market, where ships employ AI to guide themselves, significant savings in fuel and time are anticipated to drive the market value beyond $11 billion by 2028. This environment provides fertile ground for companies in the sector. Recently, Orca AI secured a Series B funding round of $72.5 million, led by Brighton Park Capital, with participation from existing investors Ankona Capital and Hyperlink Ventures. The London-based company has now amassed over $111 million in total funding, which includes a $23 million round from the previous year.
The recent funding round was primarily fueled by opportunities in defense. Founded in 2018 by CEO Yarden Gross and CTO Dor Raviv, Orca AI enhances ships with AI-driven decision-making and autonomy based on a marine visual dataset spanning over 80 million nautical miles. This technology minimizes collisions and allows crews to concentrate on other aspects of naval operations.
Gross mentioned that while commercial business remains the primary focus, there is growing interest from global navies seeking more cost-effective, efficient operations with reduced human involvement. Orca AI has already secured its first defense contract, deploying its technologies on a navy vessel.
Orca AI’s expansion benefits significantly from the advancement of Starlink, enabling the real-time transmission of data critical for route mapping, traffic monitoring, and information sharing. Gross highlighted the potential Starlink offers in gathering large-scale data directly from ship sensors.
In an analysis conducted in 2024, Orca AI’s alert system demonstrated a 54% reduction in close encounter incidents, resulting in average annual fuel savings of $100,000 per vessel.
Other companies engaged in developing autonomous maritime navigation include Avikus, a Hyundai HD subsidiary, and Sea Machines.
