Exyn Technologies announced a $35 million Series B round. The lead investor, Reliance Industries, a multinational corporation and India’s largest company headquartered in Mumbai, has diverse businesses, including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles.
Exyn will utilize 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,” said Nader Elm, CEO of Exyn Technologies. “With our mission of decreasing the number of injuries and fatalities in ‘physical’ industries gathering data in dangerous environments, having the support of a multinational company will accelerate Exyn’s impact and growth. 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 is a pioneer in AI technology and has commercialized 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.
Subsequently, Exyn has established itself in a dominant position in the mining vertical with this technology and expanded into construction, warehouse, and government use cases, including search & rescue and reconnaissance.
Exyn will use this investment to grow and diversify its sales, marketing, and product teams to support its continued worldwide expansion and movement into new industries and applications.
“AL4, the highest level of aerial autonomy in the market, has been a key differentiator in the mining industry,” said Nader Elm. “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. ”
