Nautilus Labs has secured USD 11 million in Series A funding led by M12, Microsoft’s venture fund, along with Root Ventures. Existing and new investors including Quiet Capital, Trail Mix, and Amplifier Lab participated in the round, which brings Nautilus’ total funding raised to USD 14.5 million.
Mainly, Nautilus is a US-based company having expertise on AI for the maritime shipping industry and provides the technology platform for shipping companies to run their fleets more efficiently.
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Specifically, the company gathers data from onboard the ship and combines it with meteorological data, oceanographic, and commercial data to build a comprehensive fleet profile.
Also, via machine learning and AI the platform provides real-time analytics, alerts, and decision support for operators. In that way, the operators can mitigate fuel consumption, maximize operational efficiency and generally optimize fleet performance over time.
The platform resulted to reducing 10% in a single voyage, and savings of up to 30% with wider deployment.
Matt Heider, Chief Executive Officer of Nautilus commented
Nautilus is creating an economic imperative for shipping businesses to reduce their fuel consumption.
Until now, Nautilus has signed with various fleets, as Teekay, Dorian LPG, and Eagle Bulk Shipping.
As Nautilus is backed with a Series A funding, the company reported that it will continue investing with the aim of developing deeper predictive decision support or shoreside teams and crews.
The company aims to triple in size over the next year, investing in engineering, data science, and product development.
