Israeli company SIXAI has invested US$4 million in compatriot start-up Captain’s Eye, a developer of safety, security and management systems used to identify and highlight real-time events occurring on ships.
Captain’s Eye was founded in 2020, offering an AI-based system that detects unusual incidents on ships in real time to prevent property, physical and financial damage that might occur at sea.
The company says that the system is able to alert users on a range of operational, safety and security issues on all types of vessels, such as smoke and leakages, security breaches, unsafe crew behaviour or performance anomalies. Implementation involves a network of cameras covering the critical areas on the vessel configured to detect anomalies in accordance with predefined parameters.
Captain’s Eye took part in the Techstars Eastern Pacific Accelerator in 2020, run by Techstars and Eastern Pacific Shipping, and already has a strategic partnership in place with XT Shipping, as well as a pilot underway at Ashdod Port in Israel.
“Our partnership with SIXAI is the right thing at the right time for Captain’s Eye. We welcome SIXAI’s decision to join the company as a strategic investor,” said Uri Ben-Dor, Captain’s Eye’s CEO.
“The investment will enable us to expand our activity to additional markets and offer our unique technology to additional segments in the maritime world. Our pilot with Ashdod Port proves that our system is extremely relevant to various customers in their effort to prevent accidents and severe environmental pollution.”
This new investment follows SIXAI’s signing of a partnership agreement with Israeli Aerospace Industries in October 2021 to convert military technologies from certain segments to commercial deployments to address civil market needs.