Planys Technologies, an IIT Madras-incubated start-up that makes underwater robots that can be used to inspect oil pipelines and other structures, has raised ₹14 crore in a Series A round. Public sector undertaking ONGC Start-Up Fund and Ranjan Pai's MEMG Family Office led the round.
Kris Gopalakrishnan co-founder, Infosys and Chairman, Axilor Ventures; Pratithi Trust; Keiretsu Forum (Chennai and Singapore) and other individuals participated in this round. Planys will use the money to expand its robotic fleet, fund product development and scale up operations.
Planys had received ₹1.5 crore from BPCL Start-Up Fund under project Ankur to develop customised robotic systems for the oil and gas industry. Planys caters to sectors such as maritime (ports, terminals and shipping), infrastructure (dams and bridges), and energy (oil and gas, power and hydro-electric). It has completed over 35 projects across different sectors with many repeat orders.