Orca AI, which puts computer vision on freighters, raises $ 13 million Series A funding
Tel Aviv’s Orca AI, a computer vision startup that can be modernized on freighters and improve navigation and collision avoidance, has raised $ 13 million in Series A funding, bringing its total to over of $ 15.5 million. While most freighters are equipped with security cameras, computer vision cameras are rare. Orca AI hopes its solution could introduce autonomous guidance for ships already at sea.
There are over 4,000 maritime incidents annually, largely due to human error. The company says it is getting worse as the coronavirus pandemic makes regular crew changes more difficult. Recent events in the Suez Canal have highlighted how crucial this industry is.
The funding round was led by OCV Partners, with lead Zohar Loshitzer joining the board of Orca AI. Mizmaa Ventures and Playfair Capital also participated.
The company was founded by naval technology experts Yarden Gross and Dor Raviv. The latter is a former computer vision expert in the Israeli Navy. Customers include Kirby, Ray Car Carriers and NYK.
Orca AI’s AI-based vessel navigation and tracking system supports vessels in difficult to difficult-to-navigate situations and congested waterways, using vision sensors, thermal and low-temperature cameras. brightness, as well as algorithms that examine the environment and alert crews to dangerous situations.
On the rise, Yarden Gross, CEO and Co-Founder, said: “The maritime industry… is still far behind aviation with technological innovations. Ships face increasingly congested waterways, extreme weather and low visibility conditions, creating challenging sailing experiences with often expensive cargoes … Our solution delivers unique information and data to all ships in the world, helping to reduce these difficult situations and collisions in the future.
Zohar Loshitzer, Director of OCV, added: “Commercial shipping has always been a highly regulated and traditional industry. However, we are now seeing “a positive change in the adoption of technological solutions to increase safety and efficiency.”