Coratia Technologies Secures Funding for Underwater Robotics

Coratia Technologies, an innovative deep-tech firm renowned for its advanced underwater robotic systems, has successfully secured Rs 18 crore in a bridge funding round led by MGF Kavachh. This Odisha-based startup had previously raised Rs 17 crore from MGF Kavachh, Piper, and SIDBI during a pre-Series A funding round.

The new financial injection will facilitate the execution of a Rs 66 crore contract with the Indian Navy through the iDEX initiative. The funds will also enhance research and development on new products, bolster underwater robotics capabilities, and expand manufacturing and deployment for both defence and critical infrastructure applications, as stated in a press release.

Innovative Underwater Robotics Solutions

Founded in 2021 by Debendra Pradhan and Biswajit Swain, Coratia develops indigenous underwater robotic systems that integrate cutting-edge engineering and technology miniaturisation for operation in demanding underwater settings. The company’s flagship product, Jalasimha UWROV, has attained Technology Readiness Level 9 (TRL-9), paving the way for further product enhancements and deployment.

Clientele and Applications

Coratia’s esteemed clients and partners encompass numerous notable entities, including 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. Beyond the defence sector, Coratia’s innovative technology finds application in dams and reservoirs, ports, bridges, pipelines, offshore assets, ship infrastructure, and subsea communication systems.