A maritime startup with several carriers on its list of customers has closed a new investment round led by a fund related to IT giant Microsoft.
In total, Nautilus Labs, which collaborates with Eagle Bulk Shipping, Dorian LPG and Teekay, raised USD 11 million in a Series A round. The largest investor was Microsoft's venture fund M12.
The money will be used for further development of Nautilus Labs' product, which helps shipping companies save up to 30 percent of their fuel consumption by using data and artificial intelligence.
Nautilus Labs was founded in 2016 by Anthony DiMare and Brian O'Clair. It has an office in New York employing 17 people, of which several have worked at Google, Amazon and IBM.
"We are trying to help our clients harvest the value of high-frequency data across their organization in order to drive a range of decisions they can make regarding each ship or voyage or fleet," CEO Matt Heider told ShippingWatch in February.
Nautilus Labs has raised USD 13 million in total since the company's founding in 2016.
English Edit: Jonas Sahl Jørgensen
Former IBM and Google execs want to reduce shipping companies' fuel consumption
More from ShippingWatch
FMC chair on pressured freight market: "Everyone is responsible, but no one is to blame"
More working hours in US ports could help ease the burden in the chaotic freight market, says FMC chair Daniel B. Maffei. The entire supply chain is under pressure, according to a debate with participation from World Shipping Council and Kuehne+Nagel, among others.
"Mixed lobbying" hinders Maersk from elite status on climate efforts
Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.
Danske Bank makes commitment to CO2 neutral loan portfolio by 2050
By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.
More container vessels queued off Long Beach – fewer globally
The queue of container vessels in the world's ports has decreased in recent weeks, though not off Long Beach and Los Angeles where the queue has gotten longer, according to VesselsValue.
Fredriksen increases stake again in Frontline rival Euronav
.jpg)
Norwegian-Cypriot shipping magnate John Fredriksen continues the share shopping spree in tanker operator Euronav, a competitor to Fredriksen's own Frontline.
COO, C-Level Consulting 
Shipping & Logistics Coordinator – Seafood 
Senior Accountant to Finance & Accounting 
Coordinator / Marine Operator / Operations 
Senior Sales Director Naval - Terma 
Commercial Operations - Stena Bulk 
Chief Business Officer for Cruise 
Legal Counsel for an international shipping company 
Re-posting: Do you want to help set the agenda for the maritime competencies of the future?