IIT Madras incubated marine robotics company Planys Technologies has raised $1.6 million from a group of investors including investor network Kieretsu Forum, Lets Venture and Dutch oil and gas major Shell. Returning investors ONGC Startup Fund, Ranjan Pai’s family office MEMG, Infosys co-founder Kris Gopalakrishnan also participated in the round.
Founded in 2015 by IIT Madras alumnus Tanuj Jhunjhunwala, Vineet Upadhyay, Rakesh Sirikonda, and faculty from the institute, Prabhu Rajagopal and Krishnan Balasubramanian, the company had previously raised $2 million in 2018.
The company will utilise the current round to boost its research and development, international expansion and to develop new software-assisted underwater asset management product.
