The company will utilise the funds to scale their operations internationally and to boost R&D & new product development in software assisted underwater asset management.
Deep tech startup Planys Technologies that provides cutting edge technologies for infrastructure asset integrity monitoring, today announced that it has raised $1.6 Million as part of its ongoing pre-series A round. The round saw participation from global investor network Keiretsu Forum, LetsVenture, Shell, existing investors ONGC Startup Fund, Ranjan Pai’s MEMG Family Office, Kris Gopalakrishnan, Co-Founder, Infosys alongside early seed investors from Keiretsu Forum. Planys Technologies had earlier raised its pre-series A round of $2 Million in 2018.
Planys Technologies was founded by IIT Madras alumnus Tanuj Jhunjhunwala,Vineet Upadhyay, Rakesh Sirikonda and IIT Madras Faculty Prabhu Rajagopal and Krishnan Balasubramanian. Planys serves the tech-starved underwater inspection industry with safer, highly reliable, and flexible solutions using Marine Robotics, Non-Destructive Testing & Intelligent Data Analytics & Digital Reporting. The company will utilise the funds to scale their operations internationally and to boost R&D & new product development in software assisted underwater asset management.
Planys has already enabled remotely controlled inspections and digital reporting for over 100 railway and highway bridges, 25 dams, 35 ports and 20 assets across downstream O&>, process plants & utilities. Planys currently operates across India, Netherlands, Saudi Arabia and intends to scale to Singapore soon. Planys recently partnered with a US based company HUVR, a leader in digitizing inspection workflows. HUVR’s customers will leverage Planys’ unique analytics and reporting capabilities for infrastructure and downstream assets.
Commenting on the fundraise, Tanuj Jhunjhunwala, Co-Founder and CEO of Planys said “Planys is driven by research and focuses on customers’ experience. We cater to very traditional industries that own large scale assets worth trillions of dollars and can be difficult to monitor consistently. They require digital solutions to increase operational efficiency and detect defects in a timely manner. Our data analytics and digital reporting platform in particular combined with our underwater robotics and NDT expertise, is a game-changer.”
Last year, Planys was selected by global tech giant Qualcomm as a part of their Design in India Challenge and developed an innovative platform enabling a ground-breaking new Internet of Underwater Things (IoUT) capability. As part of this challenge, Planys’ marine robotics was integrated with Qualcomm’s 5G technology to allow underwater data collection and transmission across water-air mediums, thus leading to disruptive applications for Defence, Scientific Research, Offshore Energy, Aquaculture, and Disaster Planning.
Planys is working with Shell on digital transformations for marine assets as part of the Shell E4 cohort using robotics, NDT, and data. More Recently, founders of Planys featured on the ‘Forbes 30 under 30 Asia 2021’ list & Planys was also featured in the inaugural ‘Forbes Asia 100 To Watch’ list.
Source: Business World