Exyn Technologies Closes $35M in Series B Funding

by DRONELIFE Staff Writer Ian M. Crosby

Today, Exyn Technologies announced that it has closed $35 million in its Series B round. The round was led by Reliance Industries, a multinational corporation and India’s largest company headquartered in Mumbai. Leveraging its relationship with Reliance Industries will enable Exyn to enter the Indian market, expand into Latin America, Australia, and Africa and bring exposure to future endeavors.

“We are thrilled to have Reliance Industries backing Exyn,” said Exyn Technologies CEO Nader Elm. “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.”

A pioneer in AI technology, Exyn has commercialized Autonomy Level 4 (AL4), the world’s highest level of aerial drone autonomy. Exyn drones are able to operate fully autonomously, traversing previously inaccessible areas without the need of an existing map or infrastructure. Using this technology, the company has positioned itself as a leader in the mining industry and expanded into construction, warehouse, and government applications, including search & rescue and reconnaissance.

“AL4, the highest level of aerial autonomy in the market, has been a key differentiator in the mining industry,” said 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.”

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Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer.