EyeROV, a Kochi-based deep-tech start-up specialising in marine robotics, has won Rs 10 crore ($1.2 million) in a pre-Series A funding round led by Unicorn India Ventures. The company plans to use the funds to expand into international markets and develop its innovative marine robotic products and solutions.

Founded in 2016 by IIT alumni John T Mathai and Kannappa Palaniappan P, EyeROV aims to revolutionize industries such as energy, maritime, defence and infrastructure through its cutting-edge unmanned technologies. The company is known for introducing India's first commercial underwater drones / Remotely Operated Underwater Vehicles (ROVs) and an Unmanned Surface Vehicle (USV) that is already providing solutions in India and the Middle East North Africa (MENA) region. EyeROV has extensive integration capabilities for testing long tunnels and pipelines, as well as specialized payloads.

"Marine robotics is a very complex subject and requires precision-built unmanned technology to develop a drone to inspect underwater infrastructure. Because we have a strong track record of bringing out highly innovative companies from areas that are still emerging or relatively new, we believe that EyeROV's products and solutions have a global use. " Anil Joshi, Managing Partner, Unicorn India Ventures

Over the past 24 months, EyeROV has achieved consistent revenue growth year-on-year, launched multiple new products, and expanded into new industry markets. The company has been at the forefront of underwater ROV-based tests in the hydropower sector in India. In FY 2024, EyeROV won multiple contracts domestically and internationally, expanding its reach through partnerships in India and the GCC region. Having completed more than 100 underwater tests with Tata, Adani, BPCL, DRDO, Indian Coast Guard, etc., the company serves various clients.

Jones T Mathai, CEO of EyeROV, said the funding will help accelerate the company's sales, R & D and operations. "We have developed unique and differentiated solutions for underwater infrastructure tests, which 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 very beneficial, "he said.

Looking ahead, EyeROV plans to triple its revenue by the end of the financial year by increasing sales in both domestic and international markets. The company is gearing up to take up more projects in the Oil & Gas, Maritime and Infrastructure sectors, and efforts are on to supply products to the Indian defence sector.

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