Deeptech Startup Planys Technologies Raises INR 43 Crore For Underwater Infrastructure Testing Having partnered with Reliance Industries, IOCL, BPCL, Dedicated Freight Corridor, and Indian Railways, its technology has been deployed at more than 400+ structures
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Chennai-based deep tech startup Planys Technologies announced it had raised equity funds worth INR 43 crore in a round led by Ashish Kacholia, Co-Founder of Hungama Digital Media Entertainment. The round saw participation from Samarthya Advisors, Golden Birch Investments, Cogniphy Angel Fund, Krishna Defence, and Impact India Investment Partners LLC. The startup also saw exits from many first-round seed investors.
"We intend to grow our operational capacity and enhance the inventory of underwater inspection solutions, covering high-end applications such as non-destructive testing of metal and concrete structures, specialized inspection robotics for the process and hydrocarbon industry, real-time monitoring applications, and advanced digital reporting solutions," said Vineet Upadhyay, Chief Technology Officer, Planys Technologies. Founded in 2015 by Upadhyay, Tanuj Jhunjhunwala, Prof Prabhu Rajagopal, and Prof. Krishnan Balasubramanian, Planys Technologies specializes in marine robotics, underwater Non-destructive Testing (NDT), and digital platform solutions for infrastructure management.
Having partnered with Reliance Industries, IOCL, BPCL, Dedicated Freight Corridor, and Indian Railways, its technology has been deployed at more than 400+ structures.
"Planys addresses a large market of underwater asset maintenance with its unique technology that pinpoints defects with high precision, benefiting various high-value assets like dams, bridges, and refineries to extend their asset life with timely maintenance. It is a large, underserved market and will grow thanks to companies like Planys," shares Ashish Kacholia, Co-Founder, Hungama Digital Media Entertainment.
It raised an angel round in 2016, a seed round in 2018, got a grant in 2020 and raised a pre-Series A in 2021.
According to the official statement, this strategic investment is expected to accelerate Planys' mission to revolutionize infrastructure inspections through advancements in marine robotics, underwater testing, and digital analytics and reporting platforms.
