Planys Technologies, a deep-tech startup, has made headlines by securing INR 43 Crores in equity investment led by Ashish Kacholia, the co-founder of Hungama Digital Media Entertainment Pvt Ltd. The funding round also saw participation from Krishna Defence, Golden Birch Investments, Samarthya Advisors, Cogniphy Angel Fund, and several other investors.

As per the startup, the freshly raised funds will be used to improve its infrastructure inspection process by leveraging tech such as marine robotics, underwater testing, and digital analytics.

Planys Technologies | Underwater Inspection Solutions

Founded by Vineet Upadhyay, along with Tanuj Jhunjhunwala and IIT Madras faculty, Prabhu Rajagopal and Krishnan Balasubramanian, Planys Technologies is a deep-tech startup offering cutting-edge technologies across marine robotics, non-destructive testing (NDT) & intelligent data analytics & reporting.

The startup uses underwater drone technologies to collect visual and sensor-based testing data to inspect infrastructure, particularly steel and concrete structures such as dams, bridges, and refineries.

Speaking about the development, Vineet Upadhyay, Founder and Chief Technology Officer of Planys, highlighted that the firm intends to grow its operational capacity and enhance the inventory of underwater inspection solutions. With this funding, the startup aims to cover 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.

Creating a paradigm shift in the underwater inspection industry, the startup, since its inception in 2015, has successfully completed more than 400 asset inspections globally across various sectors such as Ports, Oil & Gas, Dams, Bridges & Power. A few of its clients include Indian Railways, Reliance Industries, IOCL, and BPCL.

In recent times, both VCs and the Indian government have increasingly focused on the Indian deep-tech sector, doubling down on their investments and support.

During the interim Budget speech, Finance Minister Nirmala Sitharaman mentioned that the Ministry would launch a new scheme, outlining a corpus of Rs 1 lakh crore with a 50-year interest-free loan promoting research and innovation by deep-tech startups. The scheme aims to strengthen deep tech to expedite ‘Atmanirbharta’ and defence purposes.

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