Coratia Technologies raises Rs 18 crore bridge round
Coratia Technologies, a deep-tech company developing underwater robotic systems, has raised Rs 18 crore in a bridge funding round led by MGF Kavachh.
The Odisha-based startup had earlier raised Rs 17 crore from MGF Kavachh, Piper and SIDBI in a pre-Series A round.
The fresh funds will go toward executing its Rs 66 crore contract with the Indian Navy under the iDEX initiative.
The company also plans to accelerate R&D on new products, strengthen its underwater robotics capabilities, and scale manufacturing and deployment for defence and critical infrastructure applications.
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Coratia was co-founded in 2021 by Debendra Pradhan and Biswajit Swain. It builds indigenous underwater robotic systems that combine engineering with technology miniaturisation, so they can operate in challenging underwater environments.
Its flagship product, Jalasimha UWROV, has reached Technology Readiness Level 9 (TRL-9), providing a foundation for further product development and deployment.
Its clients and partners include the Indian Navy, Indian Oil, Indian Railways, Tata Steel, Hindalco Industries, SAIL, Neelachal Ispat Nigam Limited, Jindal Steel and Power and NIT Rourkela, among others.
Beyond defence, its technology has applications across dams and reservoirs, ports, bridges, pipelines, offshore assets, ship infrastructure and subsea communication networks.
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