Startup's Breakthrough Contract with Indian Navy: A Boost for Indigenous Underwater Robotics

A deep-tech startup based in Odisha, Coratia Technologies, has secured a groundbreaking Rs 66-crore contract with the Indian Navy. The agreement encompasses the delivery of indigenously developed Underwater Remotely Operated Vehicles (UWROVs), marking a significant step in India's technological and defense capabilities.

The contract signifies the Navy's ongoing commitment to fostering domestic research and innovation via programs like iDEX. 'This is not only a recognition of our capability to design and manufacture mission-critical underwater systems but also symbolizes the Navy's relentless efforts to strengthen India's research and innovation ecosystem through well-structured initiatives,' stated Debendra Pradhan, CEO of Coratia Technologies.

Coratia Technologies plans to channel newly raised funds into scaling up research and development, intellectual property rights, and expanding exports to meet rising global demand in the underwater robotics market, which is projected to reach USD 9.53 billion by 2030. Their technology offers substantial cost efficiency and reduces dependency on foreign imports, benefiting both defense and civilian sectors.

(With inputs from agencies.)