Nautilus Labs (Nautilus) has confirmed it has secured additional funding of US$34 million from Microsoft’s Climate Innovation Fund, to bring total capital raised to move than US$48 million overall.
Nautilus Labs (Nautilus) has confi rmed it has secured additional funding of US$34 million from Microsoft’s Climate Innovation Fund, to bring total capital raised to move than US$48 million overall.
Nautilus is using the investment to further develop and deploy new products and services that support decarbonisation (while maximising profits), target and attract new tech talent and open/expand new offices in key shipping hub locations on a global basis.
The flagship Nautilus product offering is Voyage Optimisation, which transforms how shipping voyages are operated by addressing what the company describes as long-standing inefficiencies and creating a pathway to lower emission that the global shipping industry can adopt with immediate effect
.One aspect of the approach taken by Nautilus is to promote collaboration amongst stakeholders in the shipping supply chain by connecting what it describes as “siloed owners and operators.” This means it is possible to leverage learning-based predictions to reduce fuel waste and emissions while maximising commercial and financial returns through the assessment and application of IoT data, vessel arrival and departure times and weather patterns.
Matt Heider, Chief Executive Officer at Nautilus Labs explains: “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. The firms winning in the market are mobilising resources now to adopt a collaborative, data-driven approach to transforming their voyages. By focusing on the underlying economics, they’re stripping wasted fuel and time out of their operations. The potential for Voyage Optimization is huge: our clients have seen 10-12 per cent savings per journey, with overall savings potential reaching up to 30 per cent, as we address the root cause of this hurry-up-to-wait paradigm.”
Microsoft is playing a key role in the funding of this initiative, with M12, Microsoft’s venture fund, and the Microsoft Climate Innovation Fund co-investing for the first time.
Other notable investors in this latest round of financing include NSS Advisors, Systemiq Capital, Root Ventures, Quiet Capital, TMV, and Amplifier.
