Chennai-based underwater robotics and inspection startup Planys has successfully secured a significant funding round of Rs 100 crore. The capital infusion is aimed at accelerating the company's global industrial expansion and bringing its suite of defence-oriented products to the market. This strategic move will be executed through its newly established subsidiary, Planys Ark.
Funding to Fuel Defence and Global Ambitions
The funding round was spearheaded by prominent investors Ashish Kacholia and Lashit Sanghvi. They were joined by a cohort of existing investors, including Pratithi Investment, Samarthya Investment Advisors, 3i Partners, LetsVenture, and several angel investors. Notably, this round also saw some early backers exit. This latest raise follows a previous round of ₹43 crore in April 2024, which was also led by Ashish Kacholia.
Tanuj Jhunjhunwala, co-founder and chief executive of Planys, outlined the company's roadmap. He stated that the primary objective of the funding is to scale and commercialise its defence technology platforms. These platforms are developed based on critical feedback from the Union government's iDEX (Innovations for Defence Excellence) programme and direct input from potential customers.
From Industrial Inspection to Defence Applications
Incubated at IIT Madras, Planys has carved a niche by developing advanced autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs). These robotic systems, which are operated remotely from a surface ship, are primarily used for industrial inspection and maintenance tasks. The company has an impressive international footprint with deployments in countries like Singapore, Saudi Arabia, the UAE, Qatar, and the Netherlands. Its client roster features major global corporations such as Reliance Industries, IOCL, ExxonMobil, Shell, Saudi Aramco, and SABIC.
The startup is now leveraging its industrial expertise for national security. Planys is actively collaborating with the Indian Navy, Army, and Coast Guard on various unmanned underwater systems. These collaborations include developing technologies for critical missions like search and rescue operations. Jhunjhunwala explained that the defence platforms are engineered on top of their proven industrial platforms, ensuring robustness and reliability.
Building a State-of-the-Art Production Hub in Chennai
A major part of the growth strategy involves establishing a dedicated unmanned underwater vehicle (UUV) production facility in South Chennai. This facility will be equipped with advanced fabrication capabilities and sophisticated underwater testing infrastructure.
Jhunjhunwala emphasized the strategic advantage of this in-house facility. "It saves a lot of time because going forward we can do testing in-house without testing permits, weather windows, etc.," he said. This move is expected to drastically reduce development cycles, accelerate product iteration, and enhance the efficiency of bringing new technologies from the design stage to operational deployment.
With this substantial funding and a clear roadmap encompassing global industrial services and cutting-edge defence technology, Planys is poised to dive deeper into the burgeoning market for underwater robotics, strengthening India's position in this high-tech domain.
