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Marine robotics startup EyeROV raises Rs 13 Cr in pre-Series A round

EntrackrEntrackr · 1h ago
Marine robotics startup EyeROV raises Rs 13 Cr in pre-Series A round
Medial

Marine robotics startup EyeROV has raised Rs 13 crore ($1.44 million) in a pre-Series A funding round co-invested by AWE Funds and Unicorn India Ventures. The proceeds will be used to accelerate research and development, support new product innovation, and expand its presence in India and international markets. Founded in 2017, EyeROV operates in the marine robotics and underwater inspection segment, developing remotely operated vehicles (ROVs) and unmanned surface vessels (USVs) for infrastructure, energy, and defence applications. The firm claims to have executed over 150 projects for more than 80 clients across power, oil and gas, ports, shipping, and government sectors. EyeROV’s client base includes organisations such as Tata Power, NHPC, Adani, ONGC, BPCL, and Maersk, along with government and defence bodies including the Indian Navy, DRDO, and the Indian Coast Guard. The startup has also recently secured an order worth Rs 47 crore from the Indian Navy. EyeROV integrates non-destructive testing (NDT) payloads such as ultrasonic testing, sonar imaging, and AI-based inspection tools into its robotic systems. It serves sectors including power, oil and gas, ports, infrastructure, marine research, and defence, offering both product sales and robotics-as-a-service (RaaS) models.

Marine robotics startup EyeROV raises $1.2 Mn in pre-Series A

EntrackrEntrackr · 1y ago
Marine robotics startup EyeROV raises $1.2 Mn in pre-Series A
Medial

Marine robotics deep-tech startup EyeROV has raised INR 10 Crore (about $1.2 million) in a pre-Series A round led by Unicorn India Ventures. The company had previously raised $788K from GAIL and others. The funds will be used to strengthen its geographical expansion into international markets and develop advanced marine robotics products and solutions, EyeROV said in a press-release. Co-founded in 2016 by Johns T Mathai and Kannappa Palaniappan P, EyeROV is a deep-tech company which is specialized in marine robotics and AI. The Company aims to empower industries such as energy, maritime, defense, and infrastructure through its cutting-edge unmanned technologies. According to the Kochi-based company, it has introduced commercial underwater drones/ROVs and launched an unmanned surface vehicle (USV) that provides solutions in both India and the MENA region. EyeROV also manufactures solutions for infrastructure inspections and collaborating with defense R&D labs and forces through the Innovations for Defence Excellence (IDEX) initiative to develop maritime intelligence, surveillance, and reconnaissance (ISR) solutions. EyeROV claims that it serves prominent clients including Tata, Adani, BPCL, DRDO, and the Indian Coast Guard, having completed over 100 underwater inspections. It intends to triple its revenue by the end of the financial year by boosting sales in both domestic and international markets.

Niqo Robotics raises $13 Mn in Series B round to scale globally

EntrackrEntrackr · 1y ago
Niqo Robotics raises $13 Mn in Series B round to scale globally
Medial

Agritech robotics firm Niqo Robotics (formerly TartanSense) on Tuesday announced that it has raised $13 million in a Series B round led by Brida Innovation Ventures. The round also saw significant investments from new investor Fulcrum Global Capital and existing investor Omnivore. This brings Niqo’s total fundraising to $21 million including a $5 million in Series A round from FMC, Omnivore, and Blume Ventures in August 2021 and a $2 million Seed round in 2019. Entrackr exclusively reported about the deal on May 1. Niqo will expand to new markets and accelerate the commercial adoption of spot spray, globally, according to Jaisimha Rao, founder and CEO of the company. Niqo Robotics specializes in crafting compact agricultural robots empowered with AI-driven computer vision technology which claims to reduce costs and increase profitability. It uses a proprietary AI camera with deep learning models to identify and selectively spray on target plants, reducing chemical usage by up to 90%. In 2023-24, Niqo claims to commercialize over 90,000 acres of land and benefiting over 1,800 farmers. While the company is yet to disclose audited FY24 numbers, the nine-year-old firm’s Indian entity largely remained in pre-revenue stage with a revenue of only Rs 1.3 crore during FY23. At the same time, its losses surged 2X to Rs 9.8 crore. As of the latest tranche, Omnivore Partners was the largest external stakeholder in Niqo with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively. Check TheKredible for more details. It competes with Zenrobotics, SwarmFarm, and Ecorobotis, among others.

Colossa WomenFirst Fund raises Rs 100 Cr in first close

EntrackrEntrackr · 1y ago
Colossa WomenFirst Fund raises Rs 100 Cr in first close
Medial

Colossa Ventures, a SEBI-registered independent venture capital management company, has announced the first close of its maiden fund – Colossa WomenFirst Fund at Rs 100 crore. The fund with a target corpus of Rs 500 crore will primarily focus on investing in the pre-Series A stage and beyond. Based on research Colossa aims to create a niche in healthcare & healthtech, fintech, climate & cleantech, deeptech and the consumer sectors. The fund’s strategy is to leverage gender-diversity to generate alpha, and has attracted institutions such as SIDBI and family offices like Dr. Ranjan Pai’s Family Office, and the Shriram Ownership Trust, among others to invest in the first close. Co-founded in 2022 by Ashu Suyansh and Vandana Rajadhyaksha, Colossa WomenFirst Fund is a sector-agnostic venture growth fund, that seeks to revolutionize the startup landscape by focusing exclusively on women-founded or co-founded, or where women are the main beneficiaries. A bunch of women-focused funds are currently active in India. For context, Kalaari Capital runs CXXO initiative for female founders. Gender-focused investment platform Achieving Women Equity (AWE) Funds also launched its maiden India fund amounting to Rs 350 crore. Search giant Google runs a program called Google for Startups Women Founders Fund and provides $100,000 in equity-free cash to female-founded startups. Saha Fund, She Capital, and StrongHer Ventures also focus on women founder-led startups.

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