Drone manufacturing startup BonV Aero, backed by US venture capitalist Tim Draper, announced on Thursday that it has secured funding from Unicorn India Ventures.

The investment will help the Odisha-based company advance its research in eVTOL (electric vertical takeoff and landing) and autonomous drone technologies, targeting applications in defense, logistics, and emergency response.

BonV Aero plans to expand its research and development, boost production capabilities, and collaborate with industry stakeholders. Although the exact amount of funding and the company's valuation were not disclosed, the investment marks a key milestone in the company's growth. BonV Aero had previously raised funds from Tim Draper, who is known for his investments in Tesla and Microsoft.

Satyabrata Satpathy, Founder and CEO of BonV Aero, emphasized that the investment underscores the potential of their technology and the team's dedication. BonV Aero was recently selected to join the UK Ministry of Defence's Unmanned Aerial Systems Heavy Lift Capability (UASHLC) Framework, further enhancing its credibility.

The company designs and manufactures high-payload eVTOLs and autonomous drones, with its Air Orca eVTOL being used by the Indian Army for transporting heavy cargo.

Unicorn India Ventures sees BonV Aero’s work in eVTOLs and unmanned aerial systems as having a significant impact on logistics, supply chain management, and defense applications.

Bhaskar Mazumdar, Founder and Managing Partner of Unicorn India Ventures, stated that the investment aligns with Odisha’s growing emphasis on emerging technologies and innovation in aerospace and defense, which will strengthen the region’s industrial growth.