FundingAI & Deep Tech
Coratia raises ₹18 crore bridge round
By Abha Lohia · Editor ·
Coratia Technologies: funding and every story →
BridgeRourkelaFounded 2021
- Coratia Technologies, based in Odisha, builds underwater robots for defence, infrastructure and industrial use, including the Indian Navy
- MGF Kavachh, a fund set up by a former Defence Secretary, led the ₹18 crore bridge round as a follow-on bet
- The money will help deliver a ₹66 crore Navy contract under iDEX and speed up product development and manufacturing
What happened
- Coratia raised ₹18 crore in a bridge round.
- MGF Kavachh led, after backing its ₹17 crore pre-Series A in 2025.
- Funds go to a ₹66 crore Navy contract under iDEX.
- Also covers R&D and scaling manufacturing.
Why it matters
- Shows defence-tech investors backing homegrown underwater systems.
- Indian waters have silt and low visibility, so local design matters.
The business
- Makes underwater robots for defence and critical infrastructure.
- Focuses on miniaturising and adding intelligence to its systems.
The founders
DP
Debendra Pradhan
Co-founder and CEOWho put in money
- MGF Kavachh lead — Fund floated by former Defence Secretary Ajay Kumar
In numbers
₹66 CrNavy contract
What happens next
- Deliver the Navy contract.
Earlier rounds
- Pre-Series A ₹17 Cr (2025), led by MGF Kavachh with Pontaq Ventures
- ₹5 Cr led by Piper Serica
- ₹1 Cr from T-Hub's SIDBI iDEX Fund
Words to know
- Bridge round
- Funding that carries a company between two larger rounds
The numbers around it
Coratia Technologies has 2 funding rounds in StopDown's archive, ₹22 Cr raised in all.
| When | Round | Amount | Led by |
|---|---|---|---|
| 3 May 2026 | seed | ₹22 Cr | Piper Serica Angel Fund |
AI & Deep Tech in October 2026: 32 rounds with a disclosed amount, $256 million in all; the biggest was Broccoli AI ($52M). Every sector this year →
Terms in this story
- Bridge round: A bridge round is a smaller raise that gives a startup enough cash to reach its next priced round, often through a convertible note, an iSAFE or an extension of the last round. In India a bridge from existing investors still needs board and shareholder approvals under the Companies Act, 2013, and FEMA compliance if the money is foreign.
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