Aerial Intelligence Startup 'Aereo' lifts $1.8 million in Series B
Aereo an aerial intelligence platform, has raised $1.8 million in its Series B fundraising round, which is being led by JSW Ventures.
In July of this year, Aereo had already raised $15 million in the same financing round headed by 360 ONE Asset, with participation from its current partners StartupXseed Ventures and Navam Capital.
The extra funds will be deployed to expand its position in providing innovative commercial drone solutions and speeding its growth into international markets, Aereo said in a press release.
Aereo, which was co-founded in 2013 by Vipul Singh and Suhas Banshiwala, improves asset management in industries like mining, infrastructure, urban and rural development, and land records by utilizing cutting-edge drone technology and AI-driven data analytics. Among the company's extensive services are land record digitization, quality checks, and inventory assessments.
The Bengaluru-based company says it has completed large-scale government projects, including mapping more than 50,000 square kilometers for the Digital India Land Record Modernization Program (DILRMP) and more than 45,000 villages under the SVAMITVA initiative. It also states that it has attained EBITDA profitability.
With 15 patents covering developments in drone hardware, design, and predictive flight planning technologies, Aereo is primarily focused on intellectual property. It might face competition from businesses like Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems, and others, either directly or indirectly.
Recently, in its Pre-Series A funding round, Nayan Tech, a cutting-edge AI firm offering smart city traffic monitoring systems, raised $2 million from investors led by BEENEXT and included We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital.
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In July of this year, Aereo had already raised $15 million in the same financing round headed by 360 ONE Asset, with participation from its current partners StartupXseed Ventures and Navam Capital.
The extra funds will be deployed to expand its position in providing innovative commercial drone solutions and speeding its growth into international markets, Aereo said in a press release.
Aereo, which was co-founded in 2013 by Vipul Singh and Suhas Banshiwala, improves asset management in industries like mining, infrastructure, urban and rural development, and land records by utilizing cutting-edge drone technology and AI-driven data analytics. Among the company's extensive services are land record digitization, quality checks, and inventory assessments.
The Bengaluru-based company says it has completed large-scale government projects, including mapping more than 50,000 square kilometers for the Digital India Land Record Modernization Program (DILRMP) and more than 45,000 villages under the SVAMITVA initiative. It also states that it has attained EBITDA profitability.
With 15 patents covering developments in drone hardware, design, and predictive flight planning technologies, Aereo is primarily focused on intellectual property. It might face competition from businesses like Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems, and others, either directly or indirectly.
Recently, in its Pre-Series A funding round, Nayan Tech, a cutting-edge AI firm offering smart city traffic monitoring systems, raised $2 million from investors led by BEENEXT and included We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital.
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