Our Investment In Orca AI
TL;DR Orca AI combines a world-class team with a deep passion for what they do; cutting edge computer vision and AI technologies; a huge, overlooked market; and a clear mission to make the world of shipping safer.
How it all started
I first met Orca AI in Tel Aviv at Ecomotion Week 2019 — Roy Shmuel from Sightec suggested I check them out and had heard really positive things.
After a chat on their stand, speaking to numerous other companies at the event, and then watching Orca AI win the Nvidia Startup Competition ‘Moving Machines from A to B’, I was excited to find out more about the company.
Whilst the vast majority of companies at the event were focused on autonomous cars/trucks, it seemed like the maritime space could be the perfect market for advanced computer vision and AI applications.
Computer vision/AI -> shipping
Whilst many founders have jumped onto the autonomous ground vehicles bandwagon (likely to the detriment of early-stage investors), Orca AI is applying cutting edge computer vision and AI to the maritime space.
Their initial product is a human in the loop collision avoidance system which uses data from an array of 6 cameras (3 HD, 3 thermal) mounted on the ship’s mast and fuses this with data from the ship’s existing sensors.
An augmented video feed, rich with relevant data, is displayed on a tablet in the bridge and used by the crew to navigate safely and plot the optimal route, including at times of low light/visibility and during inclement weather (it’s so popular with one captain, he’s named it ‘Baby Girl’).
The initial ship focused offering — now with proactive, life-saving alerts — has been complemented by ‘ORCA for the Fleet’, providing full-awareness about the current state of the entire fleet to increase visibility for fleet managers.
Solving a major pain point
The global shipping market is huge (90% of the world’s trade is via ship) and the safe transportation of goods on the oceans is of crucial importance from an economic, reputational, and environmental point of view.
Despite this, there has been very little investment in new technology and captains are using systems designed for a time when the oceans, and in particular busy shipping lanes and ports, were far less congested.
According to the European Maritime Safety Association (EMSA), more than 3,000 shipping accidents occur every year with a $20bn annual cost.
By deploying Orca AI’s collision avoidance system and fleet management solution, ship owners/ operators can take a big step forward in protecting their valuable assets and reputations, as well and the environment.
A truly world-class team
Whilst we are excited about the market and the product, it is the team that are truly outstanding — Yarden Gross (CEO) and Dor Raviv (CTO) are incredibly well placed to build out Orca AI into a global leader in autonomous shipping
- Yarden and Dor both have a natural understanding and love of the oceans — Yarden as a combat navy diver, Dor as a naval reservist who worked on the Israeli Navy’s autonomous ships programme and whose parents have spent the past 8 years circumnavigating the world on a boat
- Yarden is a successful second time founder, second time CEO and has a great understanding of strategy, sales and business development (I was amazed at the depth of their sales pipeline with only him driving it)
- Dor is an accomplished CTO having studied at Technion and worked for leading start-ups including OrCam (founded by the team behind Mobileye) — click here to listen to his Autonomous Ships HQ podcast
- They have hired a team of exceptional engineers to focus on building the world’s best computer vision/AI for maritime navigation
Above all else, the authenticity of their story, based on a genuine love of the oceans, and their passion for what they are doing is infectious.
Reflections after closing
Ocra AI is a great example of a company where the Israeli ecosystem has given the founders a unfair competitive advantage — I cannot think of another team in the world better placed to tackle the challenge of autonomous shipping.
The future for the company
Orca AI’s collision avoidance system is now being rolled out on ships globally to make shipping safer for their customers. The team have also begun initial work on a number of exciting initiatives to develop autonomous ships, partnering with some of the world’s leading shipping companies.
