Seems a bunch of Stanford kids built a cheap underwater exploring robot. By cheap, $600.
http://spectrum.ieee.org/view-from-the-valley/robotics/drones/stanford-ai-grads-launch-lowish-cost-underwater-robot?utm_source=feedburner-automaton&utm_medium=feed&utm_campaign=Feed%3A+ieeespectrum%2Fautomaton+%28Automaton+-+IEEE+Spectrum%29