Exceptional Series A for Lloyd’s Lab startup Orca AI
Lloyd’s Lab, Cohort 4 alum Orca AI, a computer vision startup that can be retrofitted to cargo ships and improve navigation and collision avoidance, has raised $13 million in a Series A funding.
Led by OCV Partners – with principal Zohar Loshitzer joining Orca AI’s board – and with the participation of Mizmaa Ventures and Playfair Capital, this latest funding round take the startup’s total raised to over $15.5 million.
Based in Tel Aviv, Israel, Orca AI was founded by naval technology experts Yarden Gross and Dor Raviv. The latter is a former Israel navy computer vision expert.
The company’s AI-based navigation and vessel tracking system supports ships in difficult to navigate situations and congested waterways, using vision sensors, thermal and low-light cameras, plus algorithms that look at the environment and alert crews to dangerous situations. Clients include Kirby, Ray Car Carriers and NYK.
Orca AI was one of 12 startups selected for Cohort 4 of Lloyd’s Lab – the Insurtech accelerator launched by L Marks and Lloyd’s of London in 2018. During the ten-week programme, which ran from April 2020, the teams developed and tested their solutions in collaboration with market participants.
L Marks will soon begin scouting for Cohort 7, due to join the Lab later this year.