Coratia Technologies Raises Rs 18 Crore Led by MGF Kavachh
MGF Kavachh led the Rs 18 crore bridge round in the underwater robotics startup.
Key Takeaways
- Coratia Technologies raised Rs 18 crore in a bridge round led by MGF Kavachh.
- The round follows a Rs 17 crore pre-Series A in 2025 from MGF Kavachh.
- The company said the money will help execute its Rs 66 crore Indian Navy contract under iDEX.
- Its flagship Jalasimha UWROV has reached Technology Readiness Level 9.
Coratia Technologies, a deep-tech company that builds underwater robotic systems, has raised Rs 18 crore in a bridge round led by MGF Kavachh. The Odisha-based startup said the money will go towards a Rs 66 crore Indian Navy contract under the iDEX initiative.
The new round follows a Rs 17 crore pre-Series A round in 2025 from MGF Kavachh. Coratia was co-founded in 2021 by Debendra Pradhan and Biswajit Swain.
Coratia Technologies funding at a glance
| Detail | Coratia Technologies |
|---|---|
| Amount | Rs 18 crore |
| Round | Bridge round |
| Lead investor | MGF Kavachh |
| Sector | Underwater robotics (deep tech) |
| Location | Odisha |
| Use of funds | Executing a Rs 66 crore Indian Navy contract under iDEX, R&D on new products, and scaling manufacturing and deployment |
What Coratia Technologies does
Coratia develops indigenous underwater robotic systems for defence, infrastructure and industrial use. It specialises in remotely operated vehicles (ROVs) and autonomous marine systems.
Its capabilities include visual inspection, sonar surveys, structural assessment and robotic cleaning. Beyond defence, its technology can be used to inspect dams, reservoirs, ports, bridges, pipelines, offshore assets, ship infrastructure and subsea communication networks.
Coratia's journey from a 2021 start to a bridge round
| When | Milestone |
|---|---|
| 2021 | Debendra Pradhan and Biswajit Swain co-found Coratia Technologies |
| 2025 | Raises Rs 17 crore in a pre-Series A round from MGF Kavachh |
| October 2026 | Raises Rs 18 crore in a bridge round led by MGF Kavachh |
Debendra Pradhan is the co-founder and CEO, and Biswajit Swain is the co-founder and CTO. The flagship Jalasimha underwater remotely operated vehicle (UWROV) has reached Technology Readiness Level 9 (TRL-9).
Debendra Pradhan on building for Indian waters
"Indian waters present unique challenges, including high turbidity, silt, low visibility and changing currents. Our focus is on miniaturising technology while advancing our systems’ intelligence, capability and deployability across defence, infrastructure and industrial applications"
What Coratia says it will do with the new money
In a press release, the company said the fresh funds will be used to execute its Rs 66 crore contract with the Indian Navy under the iDEX initiative. It also said the money will go towards R&D on new products, strengthening its underwater robotics capabilities, and scaling manufacturing and deployment for defence and critical infrastructure applications.
Where Coratia stands after the bridge round
The Rs 18 crore bridge round comes after the Rs 17 crore pre-Series A round of 2025, and MGF Kavachh has led the new round after backing the company earlier. Coratia's clients and partners include the Indian Navy, Indian Oil, Indian Railways, Tata Steel, Hindalco Industries, Steel Authority of India, Neelachal Ispat Nigam, Jindal Steel and Power, and NIT Rourkela. The company said the funds will go towards its Rs 66 crore Indian Navy contract.
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