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.