Planys Technologies, a start-up that manufactures remotely operated, underwater robots has closed a ₹14-crore Series-A funding, according to a press release.
Incubated at IIT-Madras Incubation Cell, Planys is India’s first OEM (Original Equipment Manufacturer) of compact, Remotely Operated Vehicles (ROVs) capable of underwater inspections. The funding was led by Oil and Natural Gas Corporation 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 others also participated in the funding round.
The funding will help Planys expand its robotic fleet, fund product development and scale its operations. It had earlier received a ₹1.5-crore grant from BPCL Start-up Fund under ‘Project Ankur’ to develop customised robotic systems for the oil and gas industry.
The ROVs indigenously developed by Planys are underwater drones for inspection and survey solutions. The firm also caters to various traditional sectors such as marine, infrastructure and energy, and has completed over 35 projects across multiple sectors with repeat orders, it said.
Tanuj Jhunjhunwala, co-founder and CEO of Planys, said: “We are on course to create a huge impact and make such technology easily available in India.”
Currently, underwater inspections are done by human divers, but there are limitations of depth, hazard and endurance. Imported work-class ROVs weigh in tonnes, have high mobilisation time and are costly. Those are not suited for use in shallow water or inspection in rivers and reservoirs.
Vineet Upadhyay, co-founder and CTO, Planys, said: “We have innovated a technology solution that integrates advanced underwater sensing diagnostics, has an ability to go to depths of 200 metres and integrates multiple payloads on customer demand. Site engineers can view live data and direct operations in real time.”