India’s Reliance backs US-based AI startup Exyn in $35 million funding

Reliance has backed the Philadelphia-based AI and robotics startup Exyn, the Indian conglomerate disclosed in a stock exchange filing on Thursday, making further inroads in startup backings globally.
Reliance Strategic Business Ventures, a wholly-owned subsidiary of Reliance Industries, has acquired a 23.3% stake in Exyn for $25 million, the Indian firm said.
The Indian firm’s investment is part of a larger $35 million Series B funding of the Philadelphia startup, which operates a robotic autonomy for complex, GPS-denied environments.
The AI startup “commercialises the highest level of a

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