IIT Madras Start-Up Planys Technologies Raises Rs 43 Cr

(MENAFN- KNN India) Chennai, Apr 9 (KNN) Planys Technologies, a deep tech start-up incubated at the IIT Madras Incubation Cell, has secured a massive Rs 43 crore equity funding round.

The investment was led by renowned investor Ashish Kacholia and saw participation from Samarthya Advisors, Golden Birch Investments, Cogniphy Angel Fund, Krishna Defence, and Impact India Investment Partners LLC, along with backing from existing investors.

According to the start-up, this substantial investment will accelerate its mission to transform infrastructure inspections through cutting-edge advancements in marine robotics, underwater testing methodologies, and digital analytics and reporting platforms.

Vineet, Chief Technology Officer at Planys, stated, "We intend to grow our operational capacity and bolster our inventory of underwater inspection solutions.”

Ashish Kacholia, the lead investor, highlighted the massive market opportunity, saying, "Planys addresses a large, underserved market of underwater asset maintenance with its unique technology that pinpoints defects with high precision.”

He mentioned,“This benefits various high-value assets like dams, bridges, and refineries, enabling them to extend their asset life through timely maintenance."

Planys Technologies specialises in marine robotics, underwater Non-destructive Testing (NDT), and digital platform solutions for infrastructure management. Incubated at IIT Madras, the start-up was officially incorporated in June 2015 and raised Rs 1.75 crore through angel investments in its first year, developing multiple products.

(KNN Bureau)

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