Underwater robotics company Planys Technologies has raised ₹100 crore in new funding to expand internationally and strengthen its defence technology portfolio through a newly launched unit, Planys Ark.
The funding round was led by investors Ashish Kacholia and Lashit Sanghvi, with participation from existing backers including Pratithi Investment, Samarthya Investment Advisors, 3i Partners, Letsventure and several angel investors. The round also provided partial exits for early investors, the company said.
Planys said the capital will be used to scale its underwater inspection systems across industrial markets and develop unmanned underwater vehicle (UUV) technologies for defence applications.
New focus on defence manufacturing
Planys Ark, the firm’s new defence-focused subsidiary, will design and produce indigenous UUVs aimed at supporting India’s naval and maritime operations. The company plans to set up a production facility in South Chennai equipped with fabrication and underwater testing infrastructure.
Chief Technology Officer and co-founder Vineet Upadhyay said the new unit would accelerate work on indigenous underwater platforms. “Our fully India-built systems are designed for mission-ready, customisable solutions in complex operational environments,” he said.
Backed by three Innovation for Defence Excellence (iDEX) challenge wins, Planys’ portfolio includes remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs), including micro AUVs for expendable missions. It has also developed propulsion systems to reduce reliance on imported components for defence use.
Founded in 2015 by IIT Madras alumni Tanuj Jhunjhunwala and Vineet Upadhyay, along with professors Prabhu Rajagopal and Krishnan Balasubramaniam, Planys builds robotic systems for underwater inspections in industrial and infrastructure settings.
The company is developing hybrid ROVs, robotic crawlers and an artificial intelligence-based 3D inspection platform for testing submerged assets. One of its upcoming products, the TankRover, is designed for inspecting hydrocarbon storage tanks without service interruptions and is built to meet international explosion-proof standards.
Planys said it remains the only firm globally with technology capable of conducting underwater concrete testing using submersible robotic systems.
Global expansion and partnerships
Planys operates in over 10 countries, including Singapore, Saudi Arabia, the UAE, Qatar, Oman and the Netherlands. Its clients include Reliance Industries, Indian Oil Corporation, Bharat Petroleum, Shell, Saudi Aramco and ExxonMobil. The company has logged more than 25,000 operational hours across 500 sites.
It is expanding through collaborations such as a partnership with Applus Velosi in Qatar and participation in the Hub71 deep-tech programme in Abu Dhabi. These partnerships are expected to help Planys scale manufacturing, deliver inspection services and introduce new AI-driven products internationally.
Lead investor Ashish Kacholia, who also participated in a previous ₹43 crore funding round in 2024, said Planys had built strong technical capabilities and commercial traction.
Planys holds 21 granted patents and 15 applications pending. The company said it aims to build on its research and manufacturing base to serve both industrial and defence clients globally.
