Robot-powered underwater analytics startup Planys bags Rs 14 Cr Series A round

Planys Technologies, a startup that provides underwater robotic inspection and survey services using robots, is raising a Rs 14 Cr Series A round, according to regulatory fillings. 

The submersible startup has received Rs 6.78 Cr of the total investment from Kris Gopalakrishnan. The other participating investors include Pratithi Investment Trust, MEMG Family Office, and some HNIs including S Gopal, former director of Chemplast Sanmar.

This is the second round of funding in the startup after it raised around $260,000 in angel funding from the Singapore and Chennai chapters of Keiretsu Forum in December 2015. It has also received a grant from India’s Ministry of Micro, Small, and Medium Enterprises.

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Launched in June 2015, the IIT-Madras incubated startup has built an underwater robot, or remotely operated vehicles (ROV), which operates as a data capturing platform such as for evaluating thickness mapping and ultrasonic corrosion.

The ROV has industrial applications, including inspection of ports and ships. The company provides its service to ports which can deploy the robot that has unlimited endurance, highly portable and cost-effective, instead of employing human divers for underwater inspection for different purposes.

Planys has Chennai Port Trust, sembcorp, Visakhapatnam Port Trust and L&T Kattupalli International Container Terminal among its customers. The company has a huge potential in the country as the majority of rivers, lakes and other water bodies have been grappling with an alarming level of pollution.

The development was first reported by Paper.VC citing regulatory filings.