- Exyn Technologies, which makes a robotic autonomy platform for different types of drones that can fly in risky, GPS-denied environments, said that it had raised USD 35 million in early-stage funding.
- Exyn’s robotic autonomy powered by artificial intelligence has enabled the business to market Autonomy Level 4, the greatest level of aerial drone autonomy.
Exyn Technologies, the creator of a robotic autonomy platform for several types of drones capable of traversing difficult, dangerous, and GPS-denied settings, announced on Friday that it had secured USD 35 million in seed capital to extend its operations.
Reliance Industries, a multinational conglomerate headquartered in Mumbai, India, with operations in energy, petrochemicals, natural gas, telecommunications, mass media, and retail, led the Series B fundraising round.
Exyn’s robotic autonomy powered by artificial intelligence has enabled the business to market Autonomy Level 4, the most significant level of aerial drone autonomy. This enables drones to operate in confined spaces without line-of-sight operation, a previous map with waypoints, or wireless connectivity — including global positioning, which would not function underground or within a structure.
Consequently, a flying drone may be readily launched into a complicated or hazardous environment and permitted to do its own scans using a set of criteria, complete a mission using its onboard AI, and return to its home base. This provided users with a great deal of freedom for operating drones in places such as caverns and mining areas, where it was previously challenging.
Full drone autonomy also enables human operators to remain safe in potentially hazardous regions, allowing drones to check into nooks and crannies, fly above shaky structures, and point cameras into crevasses that are not immediately visible without putting employees at risk. As a result, the application of AI can significantly minimize worker injuries and provide much-needed additional knowledge about work environments.
Nader Elm, chief executive of Exyn Technologies, said, “With our mission of decreasing the number 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.”
The company’s drones are equipped with 4K cameras and built-in lights to offer high-resolution footage and provide operators with high-definition views of potentially hazardous settings. In addition, they are fitted with gimbal-mounted LiDAR (Laser imaging, Detection, and Ranging) sensors capable of making high-resolution 3D imaging scans of complicated sceneries, performing close navigation in comparable surroundings, and avoiding obstacles in real-time dynamic circumstances.
Exyn has already established itself as a leader in the mining business for drones and is now moving into construction, warehousing, and government applications such as search and rescue and reconnaissance.
Elm said, “The application of our fully autonomous robots is expansive, and 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.”
The newly acquired funds will be utilized to commence operations in the Indian market and expand worldwide into Latin America, Australia, and Africa to increase the platform’s exposure.