Deeptech company Coratia Technologies, which develops advanced underwater robotic systems, has raised Rs 18 crore in a bridge funding round led by MGF Kavachh.
The Odisha-based startup had previously secured Rs 17 crore in a pre-Series A round from MGF Kavachh, Piper and SIDBI.
According to a company press release, the latest funding will support the execution of its Rs 66 crore contract with the Indian Navy under the iDEX initiative. The capital will also be directed towards accelerating R&D for new products, enhancing its underwater robotics capabilities, and expanding manufacturing and deployment for defence and critical infrastructure applications.
Co-founded in 2021 by Debendra Pradhan and Biswajit Swain, Coratia develops indigenous underwater robotic systems that leverage advanced engineering and technology miniaturisation to function in challenging underwater conditions. Its flagship product, Jalasimha UWROV, has attained Technology Readiness Level 9 (TRL-9), creating a platform for further product development and deployment.
The company’s clients and partners include the Indian Navy, Indian Oil, Indian Railways, Tata Steel, Hindalco Industries, Steel Authority of India (SAIL), Neelachal Ispat Nigam Limited, Jindal Steel and Power, and NIT Rourkela, among others.
In addition to defence, Coratia’s technology can be deployed across several sectors and infrastructure assets, including dams and reservoirs, ports, bridges, pipelines, offshore facilities, ship infrastructure and subsea communication networks.
