Microsoft Leads $34 Million Series B Financing Round to Decarbonise Ocean Shipping
Microsoft sponsored the $34 million series B investment round for Nautilus Labs through its M12 venture fund and the Microsoft Climate Innovation Fund. The fund is used to create new product capabilities to assist clients' decarbonisation and profit maximisation goals, as well as to employ new talent and expand Nautilus Labs' footprint across important global shipping hubs.
The latest round brings Nautilus' total raised capital to over $48 million. The proceeds will facilitate the company to develop and deploy new product capacities that support its decarbonisation drive and attract new tech talent.
Voyage Optimisation is Nautilus' collaborative flagship solution, which helps the ocean shipping industry lower emissions at the earliest.
The company is also associating with stakeholders in the ocean supply chain by bringing previously isolated owners and operators. The solution has machine learning-based predictions to lower fuel waste and emissions and maximise commercial returns by analysing weather patterns, IoT data, arrival and departure times, and Commerical uses.
Matt Heider, Chief Executive Officer at Nautilus Labs, said: "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."
He added Voyage Optimisation could bring 10 to 12 per cent savings per journey, with overall savings potentials reaching up to 30 per cent.