Philadelphia-based AI and robotics startup Exyn has secured $35 million in funding from India’s Reliance, which was disclosed in a stock exchange filing that was made on Thursday, continuing their investment in the startup.
Reliance Strategic Business Ventures, a subsidiary of Reliance Industries, has now acquired a 23.3% stake in Exyn for a reported $25 million, according to the firm, and the investment is part of a larger $35 million Series B funding.
According to their official website, Exyn “commercializes the highest level of aerial drone autonomy in the world, Autonomy Level 4 (AL4.) Exyn’s robots are able to autonomously navigate in previously inaccessible environments without a prior map, existing infrastructure (GPS, communications, etc.), or an operator in the loop.”
“With our mission of decreasing the amount of injuries and fatalities in ‘physical’ industries gathering data in dangerous environments, having this investment will accelerate Exyn’s impact and growth. With this new capital, we will further expand our worldwide footprint to dramatically improve safety for those working in dangerous environments around the world and keeping them out of harm’s way,” Nader Elm, chief executive of Exyn said in an official statement.
