| 02‑07‑2025 – Bhubaneswar-based startup Coratia Technologies Pvt. Ltd., founded by NIT Rourkela alumni Debendra Pradhan and Biswajit Swain, has raised $2 million (₹17 crore) in Pre‑Series A funding from MGF Kavachh, a venture capital fund launched by former Defence Secretary Dr. Ajay Kumar.
Coratia, known for building indigenous unmanned underwater vehicles (UUVs) like Jaladuta and Jalasimha, serves clients including the Indian Navy, Indian Railways, and Tata Steel. The funds will help expand R&D in Rourkela, set up production offices in Bangalore and Bhubaneswar, and develop next‑gen sonar and swarm systems.
The startup earlier gained national attention after securing ₹80 lakh on Shark Tank India Season 3.
“We’re building technologies that protect India’s critical infrastructure and advance maritime security,” said CEO Debendra Pradhan.
MGF Kavachh said the investment reflects its commitment to backing strategic, indigenously developed technologies crucial for national defence and sovereignty.
