orca ai, which puts computer vision onto cargo ships, raises $13m series a funding
Orca AI Secures $13 Million in Series A Funding
Orca AI, a Tel Aviv-based computer vision startup specializing in enhancing maritime navigation and collision avoidance, has successfully completed a $13 million Series A funding round. This brings the company’s total funding to exceed $15.5 million.
Currently, the integration of computer vision cameras on cargo ships is uncommon, despite the widespread use of security cameras. Orca AI aims to facilitate the introduction of autonomous guidance capabilities to existing vessels.
Addressing a Critical Need in Maritime Safety
More than 4,000 marine incidents occur annually, with human error being a primary contributing factor. The situation is reportedly worsening due to disruptions in crew changes caused by the coronavirus pandemic.
Recent events, such as the blockage of the Suez Canal, have underscored the vital importance of the shipping industry to global trade.
Investment Details
OCV Partners spearheaded the funding round, with Principal Zohar Loshitzer assuming a position on Orca AI’s board of directors. Additional participation came from Mizmaa Ventures and Playfair Capital.
Company Leadership and Clientele
Orca AI was established by Yarden Gross and Dor Raviv, both experts in naval technology. Raviv previously served as a computer vision specialist within the Israel Navy.
The company’s customer base includes prominent names such as Kirby, Ray Car Carriers, and NYK.
How Orca AI Enhances Maritime Navigation
Orca AI’s AI-powered navigation and vessel tracking system assists ships in navigating challenging and congested waterways.
The system utilizes a suite of sensors, including vision, thermal, and low-light cameras, coupled with sophisticated algorithms. These algorithms analyze the surrounding environment and provide alerts to crews regarding potential hazards.
Statements from Key Personnel
“The maritime industry… is still far behind aviation with technological innovations,” stated Yarden Gross, CEO and co-founder of Orca AI. “Ships deal with increasingly congested waterways, severe weather and low-visibility conditions creating difficult navigation experiences with often expensive cargo… Our solution provides unique insight and data to any ship in the world, helping to reduce these challenging situations and collisions in the future.”
Zohar Loshitzer, principal at OCV, added: “Commercial shipping has historically been a highly regulated and traditional industry. However, we are now “witnessing a positive change in the adoption of tech solutions to increase safety and efficiency.”
Additional Resources
A review of Orca AI's technology can be found at: https://vimeo.com/orron/review/536216010/2883314e3b
Mike Butcher
Mike Butcher: A Profile of a Leading Tech Voice
Mike Butcher, M.B.E., is a highly respected figure in the technology landscape. Previously serving as Editor-at-large for TechCrunch, his journalistic background includes contributions to prominent UK newspapers and magazines.
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