Chennai-based Plany's Technologies witnesses influx of $4 million in Series A funding round
Chennai based Deeptech startup Plany’s Technologies has recently raised $4 million in its ongoing pre-Series A round. The fresh pool of fund has come to this company in small tranches after a period of two years.
According to the company regulatory filling in registrar of the company, the board at Planys Technologies has passed a board resolution to issue 8,471 CCPS at an issue price of Rs. 41,600 each to raise Rs. 35.23 crore.
Himalaya Finance, Golden Birch Investments, Krishna Defence, Impact India Investments, SiriusOne Capital, and several individuals including Ashish Ramesh Kacholia, Shalini Chhabra, and Puneet Gupta participated during the new investment tranche. The company also approved its MSOP pool of 1,445 equity shares amounting to Rs. 6 crore.
The company was founded by Tanuj Jhunjhunwala and Rakesh Sirikonda in 2015. The company was started with underwater inspection and now it is offering secure and adaptable solutions through marine robotics and analytics systems. The company has been working on over 350 projects with its 10 products across 5 countries. It also has more than 30 patents under its belt.
According to the report of The Kredible, Plany’s technologies has already raised around $8 million to date including a $1.6 million round led by Keiretsu Forum, LetsVenture in November 2021. After this freshly raised fund, the company the company has been valued at around Rs. 135 crore.
The startup is growing rapidly, which is very much evident from their revenue growth which is Rs. 8.63 crore in FY23 as compared to Rs 7.41 crore in FY22. Though the loss of the company also grew 3.2X Rs 3.51 crore during the same period.
According to the company regulatory filling in registrar of the company, the board at Planys Technologies has passed a board resolution to issue 8,471 CCPS at an issue price of Rs. 41,600 each to raise Rs. 35.23 crore.
Himalaya Finance, Golden Birch Investments, Krishna Defence, Impact India Investments, SiriusOne Capital, and several individuals including Ashish Ramesh Kacholia, Shalini Chhabra, and Puneet Gupta participated during the new investment tranche. The company also approved its MSOP pool of 1,445 equity shares amounting to Rs. 6 crore.
The company was founded by Tanuj Jhunjhunwala and Rakesh Sirikonda in 2015. The company was started with underwater inspection and now it is offering secure and adaptable solutions through marine robotics and analytics systems. The company has been working on over 350 projects with its 10 products across 5 countries. It also has more than 30 patents under its belt.
According to the report of The Kredible, Plany’s technologies has already raised around $8 million to date including a $1.6 million round led by Keiretsu Forum, LetsVenture in November 2021. After this freshly raised fund, the company the company has been valued at around Rs. 135 crore.
The startup is growing rapidly, which is very much evident from their revenue growth which is Rs. 8.63 crore in FY23 as compared to Rs 7.41 crore in FY22. Though the loss of the company also grew 3.2X Rs 3.51 crore during the same period.
