Odisha-based Coratia Technologies has raised ₹18 crore in a bridge funding round led by MGF Kavachh. The capital will support the production of autonomous underwater robots for a ₹66 crore Indian Navy contract under the government’s iDEX initiative.
Coratia Technologies, a deeptech startup based in Odisha, has raised ₹18 crore in a bridge funding round led by MGF Kavachh, the venture fund founded by former Defence Secretary Ajay Kumar. This infusion of capital is primarily aimed at scaling up the production of indigenous underwater robotics systems. The company is currently executing a ₹66 crore contract with the Indian Navy as part of the Ministry of Defence’s Innovations for Defence Excellence (iDEX) initiative.
The iDEX framework remains a key pillar in the government's broader effort to indigenize defence manufacturing and reduce India's reliance on imported maritime equipment. Coratia’s current order book includes the delivery of the Jalasimha and Jaladuta remotely operated vehicles (ROVs) and the Navya autonomous surface vehicle. With the Jalasimha platform achieving Technology Readiness Level 9, the firm is preparing for operational deployment, which involves meeting the rigorous quality and safety standards required by the armed forces.
While the defense sector provides substantial demand, the company is also expanding into the civilian infrastructure market. By providing non-destructive testing and inspection services to industrial clients such as Indian Oil, Tata Steel, and Hindalco Industries, Coratia is attempting to diversify its revenue streams. This dual approach is strategically important, as government-focused startups often face risks related to long payment cycles, complex tender processes, and regulatory dependencies.
For those tracking the defence technology sector, the primary monitorable will be the company’s execution capability. Managing a contract of this scale with a team of approximately 32 employees involves operational challenges, including potential cost overruns and complexities in integrating artificial intelligence for real-time data processing in high-turbidity water. As the company scales, its ability to deliver the naval systems within the stipulated timelines and convert its civilian industrial pilots into long-term, high-value service contracts will determine its long-term stability.