Remotely Operated Vehicles
Data Gathering
Season 3 Episode 43
| Brand | Coratia Technologies |
| Company Name | Coratia Technologies Pvt. Ltd. |
| Founders | Biswajit Swain, Debendra Pradhan |
| Original Ask | 80 lakhs for 1% equity at the valuation of Rs. 80 crores |
| Deal | 80 lakhs for 1% equity at the valuation of Rs. 80 crores |
About the Product
Coratia Technologies has developed two cutting-edge remotely operated vehicles (ROVs) tailored to address a variety of underwater challenges. The first, ROV Jaladuta, is engineered for efficient underwater operations, specializing in tasks such as cleaning ship hulls, conducting minor salvage activities, and performing surveys and inspections of submerged civil infrastructures. With a depth capability of 150 meters, Jaladuta is renowned for its reliability and versatility in maintaining the integrity of underwater structures.
Jaladuta boasts several key features that enhance its effectiveness in underwater tasks. Equipped with advanced cleaning mechanisms, it efficiently removes biofouling and debris from ship hulls and other submerged surfaces. Additionally, utilizing cutting-edge sensors and imaging technology, Jaladuta conducts thorough inspections of underwater structures, providing valuable data for maintenance and assessment. In situations requiring minor salvage operations, its robust design and manoeuvrability make it an effective tool for recovering objects and materials from underwater environments.
Building upon the success of Jaladuta, Coratia Technologies introduces the next-generation ROV, Jalasimha. With enhanced compact design, advanced features, and an increased depth capability of 300 meters, Jalasimha sets new standards for underwater inspection and maintenance. Among its notable features is a state-of-the-art stereovision system, delivering high-resolution, three-dimensional imaging for precise navigation and detailed inspection. Additionally, its integrated robotic arm allows for intricate and precise manipulation of objects underwater, enabling complex maintenance tasks and salvage operations.
Jalasimha further enhances its capabilities with non-destructive testing (NDT) equipment, including a thickness gauge and laser scaler, providing comprehensive data on metal corrosion, thickness, and defect quantification. By integrating cutting-edge technologies, Jalasimha ensures enhanced performance and reliability, making it a trusted solution for demanding underwater tasks. With an increased depth capability of 300 meters, Jalasimha excels in deep-sea inspections and maintenance, catering to a wide range of industries with submerged infrastructure. Through their commitment to innovation, Coratia Technologies continues to advance the field of underwater robotics, offering state-of-the-art solutions for diverse underwater challenges.
Founders & their story
- Biswajit Swain
- Debendra Pradhan
Government regulations mandate regular inspections of critical structures like dams and bridges, stipulating a minimum frequency of twice a year. However, due to technological limitations, conducting these inspections in a timely manner has often been a challenge. Coratia Technologies steps in to address this issue with its innovative solutions: Jaladuta and Jalasimha. These advanced robots, equipped with cutting-edge capabilities, offer a game-changing approach to structural inspections. Jaladuta, a service-class robot, and Jalasimha, designed exclusively for the Indian Navy, operate as remotely operated vehicles, enabling efficient and timely inspections of underwater structures. By effectively cleaning underwater marine growth and capturing precise data, these robots provide invaluable assistance in maintaining the integrity and safety of critical infrastructure. Their features, including real-time HD vision, compact design with a payload capacity of up to 60 kg, and suitability for search and rescue operations, make them indispensable tools in structural inspection and maintenance. With positive buoyancy and six degrees of freedom, these robots not only capture live data but also facilitate real-time 3D mapping and comparison with existing data, empowering operators with comprehensive insights. Coratia Technologies offers flexible pricing models to cater to varying needs and budgets, ensuring accessibility of these transformative technologies. Additionally, each robot deployment requires a dedicated team of 4-6 personnel, further enhancing operational efficiency. Currently, Coratia Technologies boasts an inventory of 3 Jaladuta units and has secured a substantial government grant of 2 crores from the Government of India, reflecting recognition and support for its groundbreaking contributions to structural inspection and maintenance.
About the company
Coratia Technologies Pvt. Ltd. is a leading underwater robotics company specializing in underwater inspection services. They offer comprehensive solutions in the field of Remotely Operated Vehicles (ROVs) and Autonomous Underwater Vehicles (AUVs), addressing a wide array of underwater challenges through the use of cutting-edge technologies. With a portfolio boasting over 2 indigenously designed and manufactured ROVs, Coratia Technologies demonstrates unparalleled expertise in resolving various underwater issues.
Their services encompass a diverse range of tasks, including submerged civil structure inspections, underwater non-destructive testing (NDT), bathymetry and surface profiling, sediment analysis, water analysis, structural health assessments, underwater surveys, underwater cleaning operations, and search and rescue missions, among others. Leveraging state-of-the-art equipment and advanced technological capabilities, they ensure the highest levels of precision, efficiency, and safety in all underwater operations. Coratia Technologies boasts a dedicated team of experienced professionals who are at the forefront of innovation and industry advancements. Their commitment to excellence drives them to consistently deliver reliable and cost-effective solutions tailored to meet the unique requirements of their clients. Through their unwavering dedication to excellence, Coratia Technologies has earned a reputation for providing exceptional underwater robotics services, revolutionizing the approach to underwater exploration and problem-solving.
Revenue
In fiscal year 2023-2024, up to October, the total contract value amounted to Rs 1.28 crores. The pricing structure typically ranges from 10 to 12 lakhs for inspections spanning 5 to 7 days. Looking ahead, projections for sales from April 2024 to December 2024 stand at an impressive 50 crores, with an anticipated profit margin of 45%.
Founders’ Ask
80 lakhs for 1% equity at the valuation of Rs. 80 crores.
Offers
Vineeta’s offer: 80 lakhs for 1% equity at the valuation of Rs. 80 crores and 1% royalty until 1.6 crores is recouped.
Ritesh’s offer: 80 lakhs for 1% equity at the valuation of Rs. 80 crores.
Final Deal
Ritesh: 80 lakhs for 1% equity at the valuation of Rs. 80 crores.
