EyeROV raises Rs. 10 Crore by Unicorn India Ventures

EyeROV, a marine robotics deep-tech startup providing products and solutions in the field of the underwater domain has raised Rs. 10 Crore ($1.2M) in a Pre-Series A round led by Unicorn India Ventures. The funds deployed will further strengthen EyeROV's geographical expansion into international markets and develop advanced marine robotics products and solutions to augment EyeROV’s current offerings.

The company has successfully introduced India's first commercial underwater drones/ROVs and launched an unmanned surface vehicle (USV) that is providing solutions in both India and the MENA region. EyeROV also possesses unique capabilities for inspecting very long tunnels and pipelines and has advanced integration capabilities for specialised payloads. 

Commenting on the investment, Anil Joshi, Managing Partner, Unicorn India Ventures, says “Marine robotics is a highly complex subject and developing a drone to inspect underwater infrastructure requires unmanned tech built with precision."

EyeROV has seen consistent revenue growth over the past 24 months Year on Year and launched multiple new products and expanded to new industry verticals and geographies and is a leader in underwater ROV-based inspections in India's hydro sector. With strong customer interest in India, the MENA region, and Europe, particularly in the infrastructure, power, and oil & gas sectors, EyeROV is strengthening its market presence and developing new R&D capabilities to bring unique solutions to the market.

Johns T Mathai, CEO, EyeROV says, "With this funding, EyeROV will be able to scale up its sales, R&D, and operations much faster. We have developed unique, differentiated solutions for underwater infrastructure inspections that have been successfully validated in the Indian market and are now ready for global expansion."

Kannappa Palaniappan P, CTO, EyeROV, adds, "This funding will accelerate the development of new products, which have been validated by market studies and numerous industry inquiries."