Fuselage Innovations has been awarded a ₹1 crore pilot grant under the USHUS Maritime Innovation Support Scheme, an initiative jointly run by IIMK LIVE, the business incubator of IIM Kozhikode, and Cochin Shipyard Limited (CSL).
The funding is part of a ₹2.5 crore round distributed to three maritime startups, aimed at promoting indigenous innovation and advanced technology in India’s maritime sector.
The grant supports Fuselage Innovations’ development of its proprietary Launch and Recovery System (LARS), a technology designed to stabilize cranes during offshore and marine operations. The system helps standard cranes perform critical tasks with precision and zero oscillation, improving safety and efficiency in maritime logistics.
The grant was formally presented by representatives from both partner organizations. CSL was represented by Dr. Krishna Prasad S and Anjana K R, while IIMK LIVE delegates included Ashutosh Sarkar, Dr. Geo P Jose, and Lijo Panichappillil.
Company officials said the early backing from CSL played a key role in shaping the LARS project.
With this round, the USHUS program has so far sanctioned ₹6.9 crore in total funding to 14 startups, underscoring India’s growing focus on scalable, homegrown maritime technology solutions.
