EyeROV Secures ₹10 Crore in Pre-Series A Funding for Underwater Drone Technology
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Marine robotic stratup EyeRov raise ₹10 crore pre-series A round
EyeROV, a marine robotics deep-tech startup providing products and solutions in the field of underwater domain, has raised ₹10 crore ($1.2 million) in a Pre-Series A round led by Unicorn India Ventures. The funds deployed will strengthen EyeROV's geographical expansion into international markets
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Underwater drone developer EyeROV raises Rs 10 crore
EveROV will use the funds for expansion into international markets and advancing the development of marine robotics products and solutions to complement its existing offerings, the company said. The company plans to take on additional projects in the oil and gas, maritime, and infrastructure
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EyeROV Seeks To Capitalise On Marine Robotics And AI With Funding From Unicorn India Ventures
It counts Tata, Adani, BPCL, DRDO and the Indian Coast Guard, among its clients Marine robotics deeptech startup EyeROV has secured INR 10 Cr (around $1.2 Mn) in a Pre-Series A funding round led by Unicorn India Ventures. The company plans to use the fresh capital for global expansion and
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EyeROV raises Rs 10 cr in pre-Series A round led by Unicorn India Ventures
Founded in 2016 by IIT alumni Johns T Mathai and Kannappa Palaniappan P, EyeROV is a deep-tech company specialising in marine robotics and artificial intelligence (AI). The company aims to revolutionise industries such as energy, maritime, defence, and infrastructure through its cutting-edge
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EyeROV, a marine robotics startup, has raised ₹10 crore in a pre-Series A funding round led by Unicorn India Ventures. The company plans to use the funds to expand its product line and enter new markets.
Funding Boost for Underwater Drone Technology
EyeROV, a Kochi-based marine robotics startup, has successfully raised ₹10 crore (approximately $1.2 million) in a pre-Series A funding round. The investment was led by Unicorn India Ventures, with participation from other investors including JITO Angel Network and Keiretsu Forum Chennai
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.Company Background and Technology
Founded in 2016 by Johns T Mathai and Kannappa Palaniappan P, EyeROV specializes in developing underwater drones and robotics solutions. The company's flagship product, EYEROV TUNA, is an underwater drone designed for inspection, surveillance, and data collection in various marine environments
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.Expansion Plans and Market Opportunities
With this new influx of capital, EyeROV aims to expand its product line and enter new markets. The company plans to introduce advanced features such as auto-stabilization and auto-navigation in its underwater drones. These enhancements are expected to improve the efficiency and capabilities of their products in challenging underwater conditions
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.Industry Applications and Potential
EyeROV's technology has applications across various sectors, including oil and gas, defense, research, and underwater infrastructure inspection. The global underwater drone market is projected to reach $15.6 billion by 2030, growing at a CAGR of 12.4% from 2022 to 2030. This presents a significant opportunity for EyeROV to capitalize on the growing demand for underwater robotics solutions
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.Investor Confidence and Future Prospects
Unicorn India Ventures, the lead investor in this funding round, expressed confidence in EyeROV's potential. Anil Joshi, Managing Partner at Unicorn India Ventures, stated that EyeROV's innovative technology and strong team position them well to address the growing need for underwater inspection and surveillance solutions
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Technological Advancements and AI Integration
EyeROV is not only focusing on hardware improvements but also on integrating artificial intelligence into their solutions. The company aims to develop AI-powered analytics capabilities for their underwater drones, which could potentially revolutionize data collection and analysis in marine environments
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.Market Position and Competition
As one of the few companies in India specializing in underwater drone technology, EyeROV is well-positioned to capture a significant share of the domestic market. The company's products have already been deployed by various government agencies and private sector clients, demonstrating the practical applications and reliability of their technology
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