Exyn has secured $35 million to facilitate their expansion into governmental applications like search & rescue while opening global offices in Latin America, Australia, and Africa.
a pioneer in multi-platform robotic autonomy for complex, GPS-denied environments, announced today 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. ”
Exyn was recognized by the Inc 5000 awards as #177 among America’s fastest-growing companies. The company has also been awarded 1st place at the AUVSI Xcellence Awards. Other recent accomplishments include:
About Exyn
Exyn Technologies is pioneering multi-platform robotic autonomy for complex, GPS-denied environments. The company’s full-stack solution enables flexible deployment of single or multi-robots that can intelligently navigate and dynamically adapt to complex environments in real time. For the first time, industries like mining, logistics, and construction can benefit from a single, integrated solution to capture critical and time-sensitive data in a safer, more affordable, and more efficient way. Exyn is powered by a team of experts in autonomous systems, robotics, and industrial engineering and is a spin-out of the University of Pennsylvania's world-renowned GRASP Laboratory. The company is VC-backed and
About Reliance Industries
Reliance Industries is India’s largest private sector company, with a consolidated turnover of INR 792,756 crore (US$104.6 billion), and net profit of INR 67,845 crore ($9.0 billion) for the year ended March 31, 2022. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. Reliance is the top-most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Companies’. It features among LinkedIn’s ‘The Best Companies to Work For In India’ (2022). For more information visit:
www.ril.com.
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