Exyn Technologies, an autonomous drone firm, secured $35 million in its Series B fundraising round under the leadership of Reliance Industries, a worldwide conglomerate and the biggest business in India with headquarters in Mumbai.
The startup, which has developed a robotic autonomy platform for various drone types that can navigate challenging environments without GPS, will use this investment to enter the Indian market, broaden its global reach into Latin America, Australia, and Africa, and gain exposure for its upcoming business verticals.
“With our mission of decreasing the number of injuries and fatalities in ‘physical’ industries gathering data in dangerous environments, having the support of a multinational company will accelerate Exyn’s impact and growth,” said Nader Elm, CEO of Exyn Technologies.
In order to give high-resolution video so that operators can acquire high-quality views of areas that may be potentially dangerous, the company’s drones come equipped with 4K cameras and built-in illumination.
The drones are also equipped with gimbal-mounted laser imaging, detection, and ranging, or LiDAR, sensors that can perform close navigation in similar settings and avoid obstacles in dynamic scenarios in real time. LiDAR sensors can provide highly accurate 3D scans of complicated scenes.
Exyn is a pioneer in AI technology
Exyn is a leader in AI technology and has commercialized Autonomy Level 4, the greatest level of aerial drone autonomy available (AL4.)
“AL4, the highest level of aerial autonomy in the market, has been a key differentiator in the mining industry,” said Nader Elm.
“The application of our fully autonomous robots is expansive. With this investment and partnership, we look forward to transforming dangerous, physical data collection into a safer and more efficient workflow that can unlock further operational effectiveness and efficiency for our customers.”
Without a prior map, pre-existing infrastructure (GPS, communications, etc.), or an operator in the loop, Exyn’s robots may autonomously travel previously inaccessible locations.
As a result, it is simple to send a flying drone into a challenging or dangerous environment and let it to conduct its own scans using a set of parameters, carry out a task using the onboard AI, and then return to its starting point.
This allows customers a wide range of freedom for using drones in previously challenging-to-use situations, such as caves and for mining operations.
With this technology, the drone startup has solidified its position as a market leader in the mining sector and extended into the construction, warehouse, and government use cases, including search and rescue and reconnaissance.
With this investment it plans to expand and diversify its sales, marketing, and product teams in order to support its ongoing global expansion and entry into new markets and application areas.