Commercial drone solutions startup Aereo raises $15 million in a Series B funding round

Bengaluru-based drone startup Aereo recently raised $15 million in a Series B funding round led by 360 ONE Asset. 

The round also saw participation from existing investors, including StartupXseed Ventures and Navam Capital. 

Purpose of fundraising

Vipul Singh, co-founder and CEO of Aereo, stated, "This funding milestone enables us to expand our aerial intelligence solutions for capital asset management. With our proprietary drone tech and 360 ONE Asset's partnership, we aim to revolutionize this $10 billion industry and create a global footprint."

Suhas Banshiwala, co-founder and CTO of Aereo, stated, "Our vision is to continuously innovate drone manufacturing and data analytics for the greater good. We are excited about the confidence our customers and shareholders have shown and are gearing up for an orbital shift."

What does Aereo do?

Founded in 2013 at IIT Kanpur by Suhas Banshiwala and Vipul Singh, Aereo delivers business intelligence solutions to help manage large capital assets using proprietary drones and an AI-powered data analytics platform. 

The startup's sector-specific solutions cater to mining, infrastructure, urban and rural development, land records, and other industries, translating into a 400% revenue growth in the last two years and market dominance.

As a technology partner for Coal India Limited's Digicoal initiative, The startup provides critical business intelligence for some of the world's largest coal mines for improving productivity, efficiency, safety, and environmental compliance.

The startup has also partnered with Tata Steel since 2019, digitalizing over 27 critical mines and stockyards.

Additionally, It has played a crucial role in mapping over 45,000 villages and covering more than 50,000 square kilometres of land for the Digital India Land Record Modernization Program (DILRMP). 

Investors comment

"We're thrilled with the momentum in the commercial drone tech sector in India. Our partnership with Aereo reflects our belief in their cutting-edge innovations, and we're excited for their solutions to go global," said Karan Ahuja, Fund Manager at 360 ONE.

Ravi Thakur, Co-Founding Partner at StartupXseed, added, "Aereo has been a trailblazer from the start, delivering exceptional solutions and building the drone ecosystem. We're excited to support them in their next major growth phase."