EyeROV, a marine robotics startup, has raised Rs 10 crore ($1.2 million) in a Pre-Series A funding round led by Unicorn India Ventures. The investment will be utilised to support its international expansion and further develop its range of advanced marine robotics products and solutions, aiming to enhance its current offerings and extend its global reach, said a statement.
Founded in 2016 by IIT alumni Johns T Mathai and Kannappa Palaniappan P, the Kochi-based firm specialises in marine robotics and artificial intelligence, with a focus on sectors such as energy, maritime, defence, and infrastructure.
The company claims it has been a pioneer in developing India’s first commercial underwater drones/ROVs and recently introduced an unmanned surface vehicle (USV) that serves both India and the MENA region. The startup also states that it possesses unique capabilities for inspecting long tunnels and pipelines and integrating specialised payloads.
Over the past two years, EyeROV reports consistent revenue growth and an expanded product range across various industry verticals. The company asserts it has established a significant presence in underwater ROV-based inspections within India’s hydro sector and is attracting growing interest from customers in India, the MENA region, and Europe, particularly in the infrastructure, power, and oil & gas sectors. The firm also highlights its ongoing investments in new R&D capabilities to bring innovative solutions to the market.
The company said it plans to triple its revenue by the end of the financial year, driven by increased sales in both domestic and international markets. It is targeting more projects within the oil & gas, maritime, and infrastructure sectors, while also advancing efforts to supply products to the Indian defence sector.
“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. Unicorn India has supported similar hardware/robotics companies in the past, and we believe this partnership will be highly beneficial,” said Johns T Mathai, CEO, EyeROV.
The company’s client base, includes Tata, Adani, BPCL, DRDO, and the Indian Coast Guard, with more than 100 underwater inspections completed to date. Additionally, the firm notes its collaboration with defence R&D labs and forces through the Innovations for Defence Excellence (IDEX) initiative to develop maritime intelligence, surveillance, and reconnaissance (ISR) solutions.
“We have a strong track record of supporting innovative companies in emerging sectors, and we believe EyeROV’s products and solutions have global applications,” said Anil Joshi, Managing Partner at Unicorn India Ventures.
