Chennai-based startup Planys Technologies, specializing in deep tech, has disclosed raising equity funds totaling INR 43 crore in a round led by Ashish Kacholia, Co-Founder of Hungama Digital Media Entertainment. This investment round also includes participation from Samarthya Advisors, Golden Birch Investments, Cogniphy Angel Fund, Krishna Defence, and Impact India Investment Partners LLC. Additionally, the startup has seen exits from several initial seed investors.
Vineet Upadhyay, Chief Technology Officer of Planys Technologies, stated, “Our aim is to expand our operational capabilities and enrich our inventory of underwater inspection solutions, encompassing advanced 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.” Established 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.
With partnerships established with major entities like Reliance Industries, IOCL, BPCL, Dedicated Freight Corridor, and Indian Railways, Planys Technologies has deployed its technology at over 400 structures.
Ashish Kacholia, Co-Founder of Hungama Digital Media Entertainment, shared, “Planys serves a substantial market for underwater asset maintenance with its unique technology that accurately identifies defects, benefiting various high-value assets such as dams, bridges, and refineries to prolong their asset life through timely maintenance. It is a sizable, underserved market that will expand thanks to companies like Planys.”
Having previously secured an angel round in 2016, a seed round in 2018, a grant in 2020, and a pre-Series A round in 2021, this strategic investment is expected to propel Planys’ mission to transform infrastructure inspections through advancements in marine robotics, underwater testing, and digital analytics and reporting platforms, according to the official statement.
