Chennai-based submersible robotic inspection startup Planys Technologies has raised $2.16 Mn (INR 14 Cr) in Series A round of funding.
The investment round was led by Oil and Natural Gas Corporation Limited (ONGC) Start-up Fund and Ranjan Pai’s MEMG Family Office. Kris Gopalakrishnan’s (Co-Founder, Infosys; Chairman, Axilor Ventures) Pratithi Trust, Keiretsu Forum (Chennai and Singapore) and other individuals also participated in the round.
As Dr. Ranjan Pai stated, “We see Planys making a huge impact with its disruptive technology, solving problems in very traditional and vital industries for India.”
Planys was launched in 2015 by Tanuj Jhunjhunwala, Vineet Upadhyay and Rakesh Sirikonda. It is an IIT Madras incubated startup that provides submersible robotic inspection and survey solutions using Remotely Operated Vehicles (ROVs).
The company integrates advanced marine robotics with the next-generation inspection techniques (NDT) to provide a reliable and safe inspection solution. Planys’ technology spans the domains of marine robotics, advanced Non-Destructive Evaluation (NDE) and post-inspection analysis.
The Series A financing builds on an exceptional year for Planys. “Having successfully completed over 35 projects spread across multiple sectors with many repeat orders, I think it’s been a fantastic two years for us. With this fundraise, we are on course to create a huge impact and make such technology easily available in India,” said Tanuj.