Reliance has financed the AI and robotics startup Exyn, based in Philadelphia, the Indian giant revealed in a stock exchange filing on Thursday, further expanding its support for startups throughout the world.
Reliance Industries' wholly-owned subsidiary Reliance Strategic Business Ventures paid $25 million for a 23.3% share in Exyn, according to the Indian company.
The $35 million Series B funding of the Philadelphia startup, which runs a robotic autonomy for challenging environments without GPS, includes the Indian firm's investment.
Exyn's robots are able to autonomously navigate in previously inaccessible environments without a prior map, existing infrastructure (GPS, communications, etc.), or an operator in the loop, according to the AI startup, which "commercialises the highest level of aerial drone autonomy in the world, Autonomy Level 4 (AL4)."
