The nautical shipping management platform raised $11m in a Microsoft-led series A round, adding to $3.5m in earlier funding.
M12, the corporate venturing arm of software provider Microsoft, has led an $11m series A round for Nautilus Labs, a US-based developer of software that manages maritime shipping.
Root Ventures, Quiet Capital, Trail Mix Ventures and Amplifier also participated in the round, which increased the company’s overall funding to $14.5m since it was founded in 2016.
Nautilus has created a software platform that applies machine learning technology to the shipping process, managing the distribution of goods among fleets and allowing for more efficient routes that cut costs and save fuel.
M12 partner Matt Goldstein said: “By applying machine learning and artificial intelligence to ocean commerce, Nautilus is upending traditional maritime shipping inefficiencies as it builds towards supporting a more sustainable global trade environment.
“We are proud supporters of the Nautilus team’s mission and believe they possess the tools and experience needed to digitise one of the world’s oldest industries.”