Drone startup UrbanMatrix secures 6 crore funding led by Inflection Point Ventures
UrbanMatrix Technologies, a startup that specializes in drone technology, has raised Rs 6 crore in a Pre-Series A funding round led by Inflection Point Ventures, a venture capital firm. The company focuses on the development of industrial-grade drones and software related to cloud integration for drones. The funds will be used to further develop their products, expand the team, and enter new markets. UrbanMatrix's drone technology caters to a variety of industries and operations, including surveys, surveillance, agriculture, AI-based inspection, and defense.
Vikram Ramasubramanian said, a partner at Inflection Point Ventures, that the drone industry presents great market opportunities and is a fast-growing sector. Inflection Point Ventures is excited to provide strategic support to UrbanMatrix, to help them scale their business. UrbanMatrix, founded in 2019 by a group of IIT graduates, including Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir, and Ajay Karthik, has developed end-to-end drone solutions products that can be used in various industries. These solutions feature quantum encryption technology with cloud integration, which ensures high levels of data safety and reliability.
Rishabh Verma, CEO and Co-Founder of UrbanMatrix highlights the potential of drones to revolutionize the way we use our skies. However, scaling drone operations is a challenge that needs to be addressed to fully unlock this potential across multiple industries. UrbanMatrix is addressing this challenge by leveraging cutting-edge cloud technology. They have partnered with ISRO, Paras Aerospace, and ATV and are certified by DGCA for 4G/5G-enabled drones and UMT Hawk4G drones. Furthermore, they hold patents for innovations like NextCC and unique drone designs.
Tracxn Technologies, a drone startup based in India, has raised $49.7 million in funding across 20 rounds in FY23, compared to $25 million raised across 23 rounds in FY22, and $11.2 million raised in FY21. The drone industry has experienced a 300% increase in investment over the last three years."India’s Emerging Drone Industry: A Point of View", the drone service market in India is expected to grow at a CAGR of 44.4% over the decade of 2020s, reaching $4.9 billion by the year 2030.
Vikram Ramasubramanian said, a partner at Inflection Point Ventures, that the drone industry presents great market opportunities and is a fast-growing sector. Inflection Point Ventures is excited to provide strategic support to UrbanMatrix, to help them scale their business. UrbanMatrix, founded in 2019 by a group of IIT graduates, including Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir, and Ajay Karthik, has developed end-to-end drone solutions products that can be used in various industries. These solutions feature quantum encryption technology with cloud integration, which ensures high levels of data safety and reliability.
Rishabh Verma, CEO and Co-Founder of UrbanMatrix highlights the potential of drones to revolutionize the way we use our skies. However, scaling drone operations is a challenge that needs to be addressed to fully unlock this potential across multiple industries. UrbanMatrix is addressing this challenge by leveraging cutting-edge cloud technology. They have partnered with ISRO, Paras Aerospace, and ATV and are certified by DGCA for 4G/5G-enabled drones and UMT Hawk4G drones. Furthermore, they hold patents for innovations like NextCC and unique drone designs.
Tracxn Technologies, a drone startup based in India, has raised $49.7 million in funding across 20 rounds in FY23, compared to $25 million raised across 23 rounds in FY22, and $11.2 million raised in FY21. The drone industry has experienced a 300% increase in investment over the last three years."India’s Emerging Drone Industry: A Point of View", the drone service market in India is expected to grow at a CAGR of 44.4% over the decade of 2020s, reaching $4.9 billion by the year 2030.
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