Drone infrastructure startup NxtQube has raised an undisclosed amount in seed funding funds round led by Risk catalystsan incubation and acceleration platform in India.
The round also included participation from Pontaq VC (STPI NxtVentures), Ananta Bizcon LLP, Rushikesh Bhandari and other angel investors.
What does NxtQube do?
Founded in April 2022 by Nikhil Rajput, NxtQube is at the forefront of developing automation solutions tailored to the drone industry.
The startup’s flagship product, a universal drone docking station, is designed to handle critical tasks such as drone landing and takeoff, flight monitoring, charging and data extraction.
The docking station is a versatile modular system capable of integrating with multiple drones, eliminating the need for pilots in the field for operations such as surveillance, monitoring and logistics.
Operating on a hybrid business model
NxtQube operates on a hybrid business model that combines capital expenditures for docking stations with subscription and perpetual licensing options for its software.
The startup targets the defense and enterprise sectors, focusing on regions such as Asia Pacific, Europe and the United States.
Its aim is to meet the growing demand for autonomous drone operations, with a market potential of around 2 million drones worldwide.
Comments from the leaders
Nikhil Rajput, Co-Founder and CEO of NxtQube, said, “Our technology is designed to complement the existing drone ecosystem, providing a solution that improves efficiency and autonomy. This seed funding round is a testament to the market’s recognition of the critical role infrastructure plays in scaling drone operations. With the support of Venture Catalysts and our other investors, we are poised to accelerate our product development and market expansion.”
“NxtQube’s innovative approach to drone infrastructure aligns perfectly with the rapidly evolving drone ecosystem. Its universal docking station has the potential to significantly reduce operational costs and increase efficiency in drone deployments. We believe NxtQube is well positioned to become a global leader in drone infrastructure, meeting the growing demand for autonomous drone operations across multiple industries,” said Apoorva Ranjan Sharma, Co-Founder and CEO of Venture Catalysts.
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.