Planys raises INR ₹100 crore, launches defence arm

Underwater robotics company Planys Technologies has raised ₹100 crore in new primary funding and created a defence-focused subsidiary, Planys Ark, as it targets international growth and military contracts.

The Chennai-based startup, incubated at IIT Madras, said the round was led by investors Ashish Kacholia and Lashit Sanghvi. Existing backers, including Pratithi Investment, Samarthya Investment Advisors, 3i Partners, Letsventure and several angel investors, also participated.

The funding round also enabled exits for some of the company's earliest investors. The company said this reflected value creation since its founding in 2015.

Planys plans a twin-track strategy for the fresh capital. It will scale its industrial inspection services in overseas markets. It will also step up investment in defence technologies through Planys Ark.

"This capital infusion marks a pivotal step in Planys' journey. This enables us to enhance our solutions for some of the world's largest organisations, while concurrently developing India's next generation of unmanned underwater systems. Through our defence arm - Planys Ark, we are intensifying our focus on high impact defence opportunities," said Tanuj Jhunjhunwala, CEO & Co-Founder, Planys.

Industrial focus

Planys develops underwater robotic systems for inspection and testing of critical infrastructure in sectors such as oil and gas, ports, power, and transport.

The company is working on a new generation of systems that use hybrid remotely operated vehicles and robotic crawlers. It is also developing an AI-powered 3D "Inspection Twin" that produces digital models for advanced testing of assets.

Planys' upcoming TankRover system is an internationally certified, explosion-proof ROV. It performs in-service inspection of hydrocarbon storage tanks without draining them. The company said this approach improves safety. It also increases inspection frequency. It reduces downtime and associated costs.

Planys said it is currently the only company worldwide that offers underwater concrete testing using submersible robotic vehicles for infrastructure applications. The technology targets use cases such as bridges, jetties, and marine structures in low-visibility or harsh conditions.

Defence push

Planys Ark will house the startup's defence activities. The unit will develop underwater systems that address the requirements of the Indian armed forces and related agencies.

"With Planys Ark, we are fast-tracking a new generation of indigenous underwater systems designed to elevate India's defence capability to global standards. Our fully India-built technologies enable mission-ready, customisable UUV solutions for complex and evolving operational scenarios," said Vineet Upadhyay, CTO & Co-Founder, Planys.

Upadhyay said the company plans a new production base in its home city. "To support this expansion, we intend to build a state-of-the-art unmanned underwater vehicle (UUV) production facility in South Chennai, featuring advanced fabrication and underwater testing infrastructure," said Upadhyay.

The defence portfolio spans remotely operated vehicles and autonomous underwater vehicles, including micro AUVs for expendable or one-way missions. The company has secured three awards under the Indian government's iDEX defence innovation challenges.

Planys has also designed indigenous propulsion systems for its underwater platforms. It said this reduces future dependence on foreign original equipment manufacturers for mission-critical work such as mine countermeasures, intelligence, surveillance and reconnaissance, and expendable missions.

Patent base

IIT Madras founded Planys graduates Jhunjhunwala and Upadhyay, along with Professors Prabhu Rajagopal and Krishnan Balasubramaniam. The company focuses on underwater environments that have historically been hard to access, including ultra-turbid waters and complex marine structures.

The startup holds 21 granted patents and has filed 15 more. It said this underlines the weight of its research and intellectual property portfolio.

Planys has logged more than 25,000 hours of operational deployment. Its systems have worked across 500 sites in over 10 countries and for more than 150 users.

The company's international track record includes projects in Singapore, Brunei, Saudi Arabia, the UAE, Qatar, Oman and the Netherlands. Clients include Reliance Industries, IOCL, BPCL, MSRDC, Indian Railways, ExxonMobil, Shell, Saudi Aramco and SABIC.

Planys previously raised ₹43 crore in an equity round in April 2024. Investor Ashish Kacholia also led that earlier round.

Global partnerships

The company is widening its presence through alliances with regional partners. It has a collaboration with Applus Velosi in Qatar, which offers access to industrial clients in the Gulf state.

Planys also participates in the HUB71 deep-tech cohort in Abu Dhabi. The programme links startups into a broader regional and global network of industrial and defence customers.

Planys said these partnerships support international inspection work. They also create channels for commercialising new non-destructive testing products and AI-based tools. The company said the alliances will back the manufacturing of unmanned systems for industrial and defence users.