Deeptech startup Planys Technologies has successfully raised Rs 43 crore in equity investment from prominent investors, including Hungama Digital Media Entertainment Pvt Ltd Co-founder Ashish Kacholia.
This significant investment will propel Planys’ mission to revolutionize infrastructure inspection processes through its cutting-edge underwater drone technologies.
Investment Details:
- Planys Technologies secured a total of Rs 43 crore in equity investment.
- Hungama Digital Co-founder Ashish Kacholia led the investment round.
- Notable participation from Samarthya Investment Advisors, Golden Birch Investments, Krishna Defence, Cogniphy Angel Fund, and other investors.
Company Overview:
- Planys Technologies specializes in utilizing underwater drone technologies for infrastructure inspection.
- Their focus lies in gathering visual and sensor-based testing data to examine critical structures like dams, bridges, and refineries.
- The company boasts an impressive clientele including Reliance Industries, IOCL, BPCL, and Indian Railways.
- Planys Technologies has successfully surveyed over 400 structures, showcasing the efficacy of its technology.
Utilization of Funds:
- The funding will be allocated towards enhancing Planys’ infrastructure inspection processes.
- Implementation of advanced technologies such as marine robotics, underwater testing, and digital analytics.
- Expansion of operational capacity and development of high-end applications for non-destructive testing of metal and concrete structures.
- Introduction of specialized inspection robotics tailored for the process and hydrocarbon industry.
- Integration of real-time monitoring applications and advanced digital reporting solutions.
Company Insights:
- Founded by Vineet Upadhyay, Tanuj Jhunjhunwala, Prabhu Rajagopal, and Krishnan Balasubramanian.
- Planys Technologies was incubated at IIT Madras’ Centre for Non-destructive Evaluation (CNDE) and incorporated in June 2015.
- The company has rapidly emerged as a frontrunner in the deeptech sector, showcasing innovation and technological prowess.
Government Support and Industry Outlook:
- The Indian government, recognizing the potential of deeptech startups, is actively supporting initiatives to strengthen the sector.
- Finance Minister Nirmala Sitharaman announced plans to launch a new scheme aimed at bolstering deep tech for fostering ‘Atmanirbharta’ and defense purposes.
- This investment in Planys Technologies underscores the growing confidence in the deeptech sector and its pivotal role in driving innovation and self-sufficiency.
Conclusion:
The significant investment received by Planys Technologies not only validates the company’s innovative approach to infrastructure inspection but also underscores the immense potential of deeptech startups in India.
With a strong financial backing and a clear vision for growth, Planys is poised to make significant strides in revolutionizing the way critical structures are inspected and maintained, contributing to the nation’s progress and technological advancement.
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