Reliance purchases a 23.3% stake in the US-based AI company Exyn

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Reliance has backed the AI and robotics startup Exyn, based in Philadelphia, the Indian conglomerate revealed in a stock exchange filing on Thursday, furthering its global startup investments.

Reliance Industries’ wholly-owned subsidiary Reliance Strategic Business Ventures paid $25 million for a 23.3% stake in Exyn, according to the Indian company. The investment from the Indian company is a part of a larger Series B round of funding for the Philadelphia-based startup, which runs a robotic autonomy for challenging environments without GPS. The size of the Series B round was kept a secret by Reliance. Crunchbase reports that Exyn has received over $45 million in funding so far.

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Reliance purchases a 23.3% stake in the US-based AI company Exyn

Reliance has backed the AI and robotics startup Exyn, based in Philadelphia, the Indian conglomerate revealed in a stock exchange filing on Thursday, furthering its global startup investments.

Reliance Industries’ wholly-owned subsidiary Reliance Strategic Business Ventures paid $25 million for a 23.3% stake in Exyn, according to the Indian company. The investment from the Indian company is a part of a larger Series B round of funding for the Philadelphia-based startup, which runs a robotic autonomy for challenging environments without GPS. The size of the Series B round was kept a secret by Reliance. Crunchbase reports that Exyn has received over $45 million in funding so far.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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