Planys Raises INR 43 Cr To Offer Underwater Infrastructure Testing Solutions

Deeptech startup Planys Technologies which enables underwater infrastructure testing solutions has secured INR 43 Cr (around $5 Mn) led by angel investor Ashish Kacholia.

The round also saw participation from Samarthya Advisors, Golden Birch Investments, Cogniphy Angel Fund, Krishna Defence and Impact India Investment Partners LLC, along with existing investors. 

The startup will use the fresh funding to accelerate Planys’ mission to revolutionise infrastructure inspections through advancements in marine robotics, underwater testing and digital analytics and reporting platforms.

Founded in 2015 by IIT Madras alumni and faculty, including Tanuj Jhunjhunwala, Vineet Upadhyay, Prabhu Rajagopal and Krishnan Balasubramanian, Planys sprouted as a spin-out from the Centre for Non-Destructive Evaluation (CNDE), IITM. 

It said that the technology stack is entirely indigenously designed, developed and manufactured in India and caters to dams, bridges, ports, oil and gas, petrochemicals, power and defence sectors. 

“We intend to grow our operational capacity and enhance the inventory of underwater inspection solutions, covering high-end applications such as non-destructive testing of metal and concrete structures, specialized inspection robotics for the process and hydrocarbon industry, real-time monitoring applications, and advanced digital reporting solutions,” said Upadhyay.

Kacholia added, “Planys addresses a large market of underwater asset maintenance with its unique technology that pinpoints defects with high precision, benefiting various high-value assets like dams, bridges, and refineries to extend their asset life with timely maintenance. It is a large, underserved market and will grow thanks to companies like Planys.”

Planys claims to have started working with large industry players, including  Reliance Industries, IOCL, BPCL, Dedicated Freight Corridor, and Indian Railways. With a portfolio of 10+ products and an impressive array of 30+ patents, it aims to revolutionise the way infrastructure assets are inspected, maintained, and managed globally.

Further, Planys aims for expansion into global markets and diversification into oceanographic and defence use cases. It eyes international involvement in the Netherlands and with petrochemical players in the Middle East and Southeast Asia. Planys’ technology has already deployed across more than 400 structures, the startup said. 

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.