Nautilus Labs announced $34 million in Series B funding, where Microsoft played a leading role, with M12 and the Microsoft Climate Innovation Fund co-investing for the first time.
This round brings Nautilus’s total raised capital to over $48 million. The company will now use the investment to develop and deploy new product capabilities that support goals to drive decarbonization while maximizing profits, and attract fresh tech talent.
Nautilus’s collaborative flagship solution, Voyage Optimization, aims to create a pathway to lower emissions that the ocean shipping industry at-large can immediately adopt.
The company is also enabling collaboration among stakeholders in the ocean supply chain by connecting previously siloed owners and operators. The solution uses machine learning-based predictions to reduce fuel waste and emissions while maximizing commercial returns by analyzing IoT data, weather patterns, arrival and departure times, and commercial needs.
Economic efficiency and environmental efficiency are best solved in unison. Today, we’re able to empower ocean shipping companies with a path to creating the most profitable business – that at the same time helps them reduce carbon intensity immediately
said Matt Heider, Chief Executive Officer at Nautilus Labs, adding that Voyage Optimization can lead to 10-12% savings per journey, with overall savings potential reaching up to 30%.
As for Microsoft, Mark Kroese, General Manager, Sustainability Solutions, said that it is committed to accelerating global progress towards a more sustainable future.