NIT-R alumni’s defence tech startup receives Rs 17cr funding

Rourkela: A defence tech startup specialising in underwater robotics, founded by two NIT Rourkela alumni, has secured $2 million (around Rs 17 crore) in pre-Series A funding from MGF Kavachh, a Sebi-registered venture capital fund launched by former defence secretary Ajay Kumar.Coratia Technologies Pvt Ltd, founded by Debendra Pradhan and Biswajit Swain, has been operating from the Foundation for Technology and Business Incubation (FTBI) at NIT-R for the past three years. The equity-based funding will support the expansion of R&D operations at the startup's Rourkela headquarters and establish production offices in Bengaluru and Bhubaneswar.Pre-Series A funding is designed to provide additional capital to startups that have achieved some early traction and need to further develop their product, build customer base and demonstrate market viability before securing a larger Series A investment. "This funding is a strong vote of confidence in our vision and technology," said Debendra Pradhan, CEO & co-founder of Coratia. "Our underwater robots can detect damages or threats beneath the surface to structures like bridges and dams, with potential applications in sensitive defence operations."The investment from MGF Kavachh, which specialises in backing defence-critical and technologically advanced solutions, comes after months of discussion. Col Sarjeet Yadav, venture partner at MGF Kavachh, emphasised that the investment is a strategic endorsement of Coratia's pioneering contributions to the underwater robotics sector."We're proud to support their growth and help build India's capabilities in the underwater domain," said Raj Sethia, managing partner, MGF Kavachh. "Every startup we back contributes to building a safer, stronger India."The funding will also facilitate the development of advanced autonomous underwater vehicles (AUVs), sonar systems and swarm technologies, along with strategic hiring to scale operations and defence integration.Swain, chief technical officer, highlighted the startup's strong research foundation at NIT-R, crediting the institute's support and involvement of professors for their technological edge.