Marine robotics startup EyeROV raised $1.2 M Pre-series A funding from Unicorn India
In a pre-Series A round headed by Unicorn India Ventures, the marine robotics deep-tech startup EyeROV has raised INR 10 Crore, or roughly $1.2 million.
GAIL and other investors had previously contributed $788K to the company.
According to a press release from EyeROV, the funds will be used to develop cutting-edge marine robotics products and solutions as well as to strengthen the company’s geographic expansion into international markets.
EyeROV is a deep-tech company with a focus on marine robotics and artificial intelligence, co-founded in 2016 by Johns T. Mathai and Kannappa Palaniappan P. The company uses cutting edge unmanned technologies to empower industries including energy, maritime, defense, and infrastructure.
The Kochi-based company claims to have launched an unmanned surface vehicle (USV) that offers solutions in India and the MENA region in addition to introducing commercial underwater drones/ROVs.
Through the Innovations for Defence Excellence (IDEX) initiative, EyeROV collaborates with military forces and R&D labs to develop maritime intelligence, surveillance, and reconnaissance (ISR) solutions. Additionally, EyeROV manufactures solutions for infrastructure inspections.
After completing more than 100 underwater inspections, EyeROV asserts that its notable clientele includes Tata, Adani, BPCL, DRDO, and the Indian Coast Guard. By increasing sales in both domestic and foreign markets, it hopes to triple its revenue by the end of the fiscal year.
