Bengaluru-based aerial intelligence platform Aereo has raised an additional $1.8 million as part of its Series B. funds round led by JSW Ventures.
The last investment occurs two months after the The startup raised $15 million. in July led by 360 ONE Asset, with participation from other existing investors including StartupXseed Ventures and Navam Capital.
Purpose of fundraising
Aereo plans to use the capital raised to strengthen its commercial drone solutions and support its expansion into international markets to accelerate its global growth strategy.
“We are delighted to welcome JSW Ventures as a partner in our growth journey through this Series B round. Their trust and support are a strong testament to our innovative approach and our mission to transform asset management through drone technology. With the experience and shared vision of JSW Ventures, we are poised to scale new heights and expand our reach globally,” said Vipul Singh, Co-Founder and CEO of Aereo.
Focusing on drone technology and AI
Founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo leverages advanced buzz AI-powered technology and data analytics to improve asset management. The startup’s services serve sectors such as mining, infrastructure, urban and rural development and land registries.
It offers a range of services, including inventory assessments, quality inspections and digitization of land records. By leveraging the advanced capabilities of drones and artificial intelligence, Aereo seeks to provide innovative solutions that improve the efficiency and accuracy of asset management across various industries.
Main projects and achievements of the government
The startup claims to have played an important role in the Indian government’s SVAMITVA scheme, mapping over 45,000 villages and has also covered over 50,000 square kilometers for India’s Digital Land Registry Modernization Program (DILRMP).
Sachin Tagra, Managing Partner at JSW Ventures, said: “The DroneTech space has seen tremendous growth in recent years, driven by government initiatives such as the Drone Regulations 2021 and rapid technological advancements. “We believe Aereo is at the forefront of this transformation and we are excited to support them as they expand into new markets and continue to innovate aerial intelligence solutions.”
Intellectual property and market expansion
Aereo places a significant emphasis on intellectual property, having filed 15 patents related to drone hardware, design, and predictive flight planning technologies.
As part of its expansion strategy, the startup plans to enter key international markets, including Australia, Brazil and Africa.
The global drone industry is projected to grow at a compound annual growth rate (CAGR) of 20%, reaching $51.4 billion by 2027. Aereo aims to capitalize on this growing opportunity, particularly in the enterprise segment.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.