PE-VC Fund Investments
Underwater inspection solutions provider Planys Technologies bags Rs.100-Cr
Chennai-based Planys Technologies has raised INR 100 crore (USD 11.1 million) in a funding round led by Ashish Kacholia and Alchemy Capital co-founder Lashit Sanghvi. The round also saw participation from existing investors Pratithi Investment, Samarthya Investment Advisors, 3i Partners, Letsventure, and angel investors.The funding round included both primary and secondary transactions, facilitating an exit for Planys' early investors.Founded in 2015 by Tanuj Jhunjhunwala, Vineet Upadhyay, Prabhu Rajagopal, and Krishnan Balasubramanian, Planys Technologies specializes in providing underwater inspection services to maritime entities using its proprietary remotely operated vehicles (ROVs). It develops unmanned vehicles such as ROVs, hybrid crawlers, underwater NDT (non-destructive testing) systems, and AUVs (autonomous underwater vehicles) for marine industry data acquisition and analytics.The new funds will be used to scale its industrial inspection business across global markets, accelerate its defence-tech business through its new subsidiary, Planys Ark, and set up a dedicated unmanned underwater vehicle (UUV) production facility in Chennai.
Between Jan 2018 and Mar 2024, Planys had attracted about USD 9 M from MEMG Family Office, ONGC Startup Fund, Pratithi Investments, Shell Technology Ventures, 3i Partners, Ashish Kacholia, SiriusOne Capital and others.For FY24, Planys had reported about INR 6 Cr in Operating Income and about INR 6 Cr in Net Loss.
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