Chennai-based submersible robotic inspection startup Planys Technologies has raised $2.16 Mn (INR 14 Cr)\u00a0in Series A round of funding.\r\n\r\nThe investment round was led by Oil and Natural Gas Corporation Limited (ONGC) Start-up Fund and Ranjan Pai\u2019s MEMG Family Office. Kris Gopalakrishnan\u2019s (Co-Founder, Infosys; Chairman, Axilor Ventures) Pratithi Trust, Keiretsu Forum (Chennai and Singapore) and other individuals also participated in the round.\r\n\r\nAs Dr. Ranjan Pai stated, \u201cWe see Planys making a huge impact with its disruptive technology, solving problems in very traditional and vital industries for India."\r\n\r\nPlanys 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).\r\n\r\nThe company integrates advanced marine robotics with the next-generation inspection techniques (NDT) to provide a reliable and safe inspection solution.\u00a0Planys\u2019 technology spans the domains of marine robotics, advanced Non-Destructive Evaluation (NDE) and post-inspection analysis.\r\n\r\nThe Series A financing builds on an exceptional year for Planys. \u201cHaving successfully completed over 35 projects spread across multiple sectors with many repeat orders, I think it\u2019s 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,\u201d said Tanuj.\r\n\r\nThe startup initially provided robotic solutions for the safe inspection of ports and ships, but later also solved many pain points of oil and gas industry linked to underwater pipeline inspection purposes.\r\n\r\nCurrently, it provides robotic inspection services at offshore locations (ports, offshore platform, civil structures etc) and is looking at providing services for onshore (storage tanks, pipelines) sites and ship hulls. Some key clients include ports (Chennai, Vishakapatnam), terminals (Chemplast Sanmar, BPCL Mumbai refinery), Dams in many states, Power plants (TPCIL and NTPC) and Railway bridges in multiple divisions.\r\n\r\n\u201cWe have innovated a technology solution that integrates advanced underwater sensing\/diagnostics for various industries, have an ability to go upto depths of 200m and a design-driven ability to integrate multiple payloads on customer demand. Our solution empowers the site engineers to view live data & direct operations real time \u2013 something they have lacked in the past. We have also been successful in creating exclusively customized solutions for Indian waters like navigation and data collection in extreme conditions that is a game changer in some sectors,\u201d shared Vineet.\r\n\r\nAs of October 2016, Planys Technologies\u2019 first marine robot Mike has undergone 700 hours of operation and in November 2016, it launched its second indigenously developed\u00a0ROV Beluga. As stated, Beluga has more than double the thrust capacity compared to Mike and an enhanced vision and has an ability to reach 200-metre depth and go to speeds of up to four knots.\r\n\r\n\r\n\r\nAccording to a recent MarketsandMarkets report the global smart robotics market is valued at $4.94 Bn in 2018 and is expected to reach $14.29 Bn by 2023, at a CAGR of 23.7% between 2018 and 2023. The market is mainly driven by the factors such as growing adoption of autonomous robots for professional services, emerging technological advancement in the field of robotics, and the increasing investments towards industrial automation.\r\n\r\nOther Indian startups who are utilising robotics to disrupt different segments include QTPI and\u00a0Pune Bharti Robotics, amongst others. Apart from them, a teenage trio also developed India\u2019s first food serving robot named Butler \u2018O\u2019 Bistro (BOB) in Bengaluru\u00a0last year.\r\n\r\nOver the last few years, the Indian government has been increasingly promoting new age tech including robotics, as evident from the recent allocation of $480 Mn in the Union Budget 2018. With the recent funding, it is expected that robotic inspection startup Planys will move towards the expansion of its existing product line and bring on board a few more innovations.\r\n\r\nUpdate 1 February 27, 2018: 13:00\u00a0\r\n\r\nEarlier, based on a paper.vc report, the article mentioned that\u00a0Kris Gopalakrishnan led the Series A funding round in\u00a0Planys Technologies.