Chennai-based deep-tech startup Planys Technologies recently announced a significant milestone in its growth journey: raising $4 million in its ongoing pre-Series A round. This capital infusion marks a pivotal moment for the company, arriving after a hiatus of over two years.
According to regulatory filings accessed from the Registrar of Companies, Planys Technologies’ board has greenlit 8,471 CCPS at an issue price of Rs 41,600 each, totalling Rs 35.23 crore. Notable investors in this funding tranche include Himalaya Finance, Golden Birch Investments, Krishna Defence, Impact India Investments, and SiriusOne Capital, as well as prominent individuals such as Ashish Ramesh Kacholia, Shalini Chhabra, and Puneet Gupta.
The company’s commitment to innovation is underscored by its approval of an MSOP pool of 1,445 equity shares valued at Rs 6 crore, per the valuation report.
Founded in 2015 by Tanuj Jhunjhunwala and Rakesh Sirikonda, Planys Technologies specializes in underwater inspection, offering secure and adaptable solutions through its marine robotics and analytics systems. With a portfolio of over ten products, the company has successfully undertaken over 350 projects across five countries. Furthermore, its dedication to pioneering solutions is evidenced by its more than 30 patents.
This latest funding round adds to Planys Technologies’ cumulative funding of approximately $8 million, which includes a notable $1.6 million round led by Keiretsu Forum and LetsVenture in November 2021.
The infusion of fresh capital underscores investor confidence in Planys Technologies’ vision and capabilities and positions the company for accelerated growth and continued innovation in the deep tech space. With a solid foundation and a track record of success, Planys Technologies is poised to further disrupt the underwater inspection industry, driving efficiency, safety, and sustainability through its advanced technological solutions.
