MGF Kavachh Backs Robotics Startup Coratia Technologies

Underwater robotics startup Coratia Technologies has raised $2 Mn (around INR 17.1 Cr) in a  Pre-Series A funding round led by MGF Kavachh, a venture capital fund floated by former defence secretary Ajay Kumar, sources told Inc42. 

However, the shared press release didn’t mention the funding amount.

Founded by Debendra Pradhan and Biswajit Swain, Coratia Technologies was incubated at NIT Rourkela, specialising in underwater robotics.

Its core products include self-guided robots for underwater tasks called autonomous underwater vehicles (AUVs) and tethered robots controlled from the surface, known as remotely operated vehicles (ROVs).

“Coratia Technologies is solving real-world challenges under the surface—their work has immense implications for maritime security, energy, and safety and longevity of critical underwater infrastructure like bridges and dams,” said MGF Kavachh’s managing partner, Raj Sethia.

MGF Kavachh is a SEBI-registered Category II Alternative Investment Fund (AIF) and venture capital fund based in New Delhi. Founded in 2024 by Ajay Kumar, MGF Kavachh focuses on investing in early-stage startups working in frontier and deep technologies.

Sarjeet Yadav (R), venture partner at MGF Kavachh, said, “By supporting Coratia Tech’s indigenously-engineered solutions, we’re not just boosting technological self-reliance—we’re safeguarding vital maritime assets, advancing operational readiness, and reinforcing national security through precision-driven innovation.”

“Navies worldwide are investing in unmanned underwater vehicles to elevate their fleet of below-water defense tools. UUVs are gaining significant traction due to their potential to revolutionise maritime security and exploration. Investments in UUV technology are driven by the need for enhanced underwater capabilities in defense, scientific research, and commercial applications. This investment by MGF Kavachh is aimed at bolstering India’s indigenous under water domain capabilities,” said former vice chief of Indian Navy, Vice Admiral Satish N. Ghormade Rtd..

The investment comes amid heightened interest in defence tech startups from both the government and private investors. The recent India-Pakistan conflict and Operation Sindoor have further underscored the urgency of ramping up defence spending.

On the global front, escalating tensions such as the Iran-Israel conflict and the prolonged Israel-Ukraine war, have intensified demand for military technologies, including drones, missiles and other critical warfare components.

Reflecting this momentum, defence tech stocks have also rallied post Operation Sindoor. 

According to Tracxn data, since 2019, Indian defence tech startups have raised $349 Mn across 91 equity funding rounds, as of May 2025. Just yesterday, dronetech startup Raphe mPhibr raised $100 Mn in a funding round led by General Catalyst.

From the policy side, the Indian government is doubling down on defence procurement and exports. 

Defence Secretary Rajesh Kumar Singh recently announced that contracts worth nearly INR 2 Tn are expected to be signed in FY26, following INR 2.09 Tn in FY25. 

The government has also set ambitious defence export targets of INR 35,000 Cr by 2025 and INR 50,000 Cr by FY29.

To put this into perspective, the Ministry of Defence signed a record 193 contracts in FY25, 177 of them with domestic firms worth INR 1,68,922 Cr, reinforcing its commitment to self-reliance in the sector.