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India’s deeptech marine robotics industry has witnessed a significant milestone as EyeROV announced the successful closure of its Rs 13 crore pre-Series A funding round. The investment, led by AWE Funds and Unicorn India Ventures, marks a crucial step in the company’s growth trajectory as it aims to expand its technological capabilities and market presence both domestically and internationally.
Company Background
Established in 2017, EyeROV has positioned itself as a pioneering force in underwater robotics and infrastructure inspection solutions. The company’s core offerings include sophisticated Remotely Operated Vehicles (ROVs) and Unmanned Surface Vessels (USVs) designed to address complex inspection challenges across multiple industries. These technologies enable organizations to conduct safer, more efficient, and cost effective underwater assessments while minimizing human risk in hazardous environments.
Strategic Timing and Government Validation
The timing of this funding round appears strategic, coming on the heels of EyeROV’s substantial Rs 47 crore contract award from the Indian Navy. This government endorsement not only validates the company’s technological prowess but also highlights the increasing recognition of indigenous deeptech solutions within India’s defence establishment. Co-founder and CEO Johns T. Mathai emphasized that the company has reached a critical inflection point, driven by surging demand from energy and infrastructure sectors requiring specialized inspection services.
Market Presence and Client Portfolio
EyeROV’s client portfolio demonstrates its versatility across industries. The company has successfully delivered over 150 projects for more than 80 clients, including major corporations such as Tata Power, NHPC, Adani, ONGC, and BPCL, alongside defence organizations like the Indian Navy, DRDO, and Indian Coast Guard. This diverse customer base spans power generation, oil and gas, ports, shipping, infrastructure development, disaster management, and marine research sectors.
Technological Capabilities
A distinguishing factor in EyeROV’s competitive positioning is its advanced tunnel inspection capability, with technology capable of examining structures up to 10 kilometers in length. This places the company among an elite group of global firms possessing such specialized capabilities. Additionally, EyeROV offers flexible engagement models, including direct product sales and Robotics as a Service (RaaS), allowing clients to leverage cutting edge technology without significant capital investment.
Future Outlook
Looking ahead, the fresh capital injection will accelerate research and development efforts, facilitate new product launches, and support geographical expansion initiatives. Management has indicated strong preliminary interest from Indian and international investors for an upcoming $10 million Series A round, suggesting continued confidence in the company’s growth potential and market opportunity in the expanding marine robotics sector.
