Exyn Technologies has announced a successful $35 million Series B round of funding that will, it says, help it grow and diversify its sales, marketing and product teams to support continued worldwide expansion and movement into new industries and applications.
The lead investor, Reliance Industries, is a multinational corporation and India’s largest company headquartered in Mumbai. It has diverse businesses, including energy, petrochemicals, natural gas, retail, telecommunications, mass media and textiles.
Exyn says it will use this relationship and investment to break into the Indian market, expand its global footprint into Latin America, Australia and Africa, and bring exposure to its future business verticals.
“We are thrilled to have Reliance Industries backing Exyn,” Nader Elm, CEO of Exyn Technologies, said. “With the extra funding, we hope to expand our worldwide footprint further to improve safety by keeping those in these dangerous fields around the world out of harm’s way.”
Exyn calls itself a pioneer in artificial intelligence-backed technology, having commercialised the highest level of aerial drone autonomy in the world, Autonomy Level 4 (AL4.) Exyn’s robots can autonomously navigate previously inaccessible environments without a prior map, existing infrastructure (GPS, communications, etc), or an operator in the loop, according to the company.
“AL4, the highest level of aerial autonomy in the market, has been a key differentiator in the mining industry,” Elm said. “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. ”