KOCHI: EyeROV, a Kochi-based deep-tech startup specializing in marine robotics, has secured 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 geographically into international markets and further develop its advanced marine robotics products and solutions.
Founded in 2016 by IIT alumni Johns T Mathai and Kannappa Palaniappan P, EyeROV aims to revolutionize industries such as energy, maritime, defense, 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 for launching an unmanned surface vehicle (USV) that is already providing solutions in both India and the Middle East North Africa (MENA) region. EyeROV also boasts unique capabilities in inspecting long tunnels and pipelines and has advanced integration capabilities for specialized payloads.
Anil Joshi, Managing Partner of Unicorn India Ventures, commented on the investment, saying, “Marine robotics is a highly complex subject, and developing a drone to inspect underwater infrastructure requires unmanned tech built with precision. As we have a strong track record of bringing out highly innovative companies from sectors that are still emerging or relatively new, we believe EyeROV’s products and solutions have a global application.”
Over the past 24 months, EyeROV has seen consistent year-on-year revenue growth, launched multiple new products, and expanded into new industry verticals and geographies. The company is a leader in underwater ROV-based inspections in India's hydro sector. In FY 2024, EyeROV secured multiple contracts both domestically and internationally, expanding its reach through partnerships in India and the GCC region. The company serves esteemed clients such as Tata, Adani, BPCL, DRDO, and the Indian Coast Guard, having completed over 100 underwater inspections.
Johns T Mathai, CEO of EyeROV, noted that the funding would help the company scale up its sales, R&D, and operations more rapidly. “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," he said.
Looking ahead, EyeROV plans to triple its revenue by the end of the financial year by boosting sales in both domestic and international markets. The company is set to undertake more projects in the oil & gas, maritime, and infrastructure sectors and is advancing its efforts to supply products to the Indian defense sector.
Kannappa Palaniappan P, CTO of EyeROV, added, "This funding will accelerate the development of new products, which have been validated by market studies and numerous industry inquiries."