Coratia Technologies Raises Rs 18 Cr Bridge Round From MGF Kavachh

Coratia Technologies, a deep-tech startup building advanced underwater robotic systems, has raised Rs 18 crore in a bridge round led by MGF Kavachh, the company said in a press release.

The Odisha-based company had previously raised Rs 17 crore in a pre-Series A round from MGF Kavachh, Piper and SIDBI. The new round extends that funding as the startup moves into a larger phase of execution.

Where the money will go

The largest priority is delivering Coratia's Rs 66 crore contract with the Indian Navy, awarded under the iDEX initiative. The company also plans to speed up research and development on new products and strengthen its underwater robotics capabilities.

In addition, the funds will help scale manufacturing and deployment of its systems for defence and critical infrastructure applications.

Why it matters

Underwater robotics is a niche but strategically important field, with demand from naval forces and from operators of infrastructure that needs inspection and monitoring below the surface. A Rs 66 crore navy order under iDEX is a notable validation for a young Indian hardware startup, and the bridge round gives it capital to fulfil that order while it continues to develop its product line.

The company did not disclose further details of the round in the material provided, such as valuation or a timeline for a Series A.