[Funding alert] Deeptech Startup Planys Technologies Secures Rs 43 Cr Equity Funding

Ashish Kacholia, co-founder of Hungama Digital Media Entertainment, led a round of investment for Planys Technologies, a deep tech firm based in Chennai, which revealed it had secured INR 43 crore in equity capital. Samarthya Advisors, Impact India Investment Partners LLC, Golden Birch Investments, Cogniphy Angel Fund, and Krishna Defence were among the participants in the round.

Planys has completed more than 400+ asset inspections globally across various sectors such as Ports, Oil & Gas, Dams, Bridges & Power, as reported by Entrepreneur.

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"We intend to grow our operational capacity and enhance the inventory of underwater inspection solutions, covering high-end applications such as non-destructive testing of metal and concrete structures, specialized inspection robotics for the process and hydrocarbon industry, real-time monitoring applications, and advanced digital reporting solutions," said Vineet Upadhyay, Chief Technology Officer, Planys Technologies.

In 2019, Planys started operation in the Netherlands and Saudi Arabia and continues to scale creating global impact.

"Planys addresses a large market of underwater asset maintenance with its unique technology that pinpoints defects with high precision, benefiting various high-value assets like dams, bridges, and refineries to extend their asset life with timely maintenance. It is a large, underserved market and will grow thanks to companies like Planys," shares Ashish Kacholia, Co-Founder, Hungama Digital Media Entertainment.

About Planys Technologies

Founded in 2015 by Upadhyay, Tanuj Jhunjhunwala, Prof Prabhu Rajagopal, and Prof. Krishnan Balasubramanian, Planys Technologies is an Indian deep tech start-up creating a paradigm shift in the underwater inspection industry.

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