Drone technology startup Okulo Aerospace raises $1M led by Ideaspring, others

Drone technology startup Okulo Aerospace has raised $1 million in funding as it aims to focus on product development, team expansion, and establishing early traction with customers through targeted marketing and sales initiatives.

The pre-Seed funding round was led by Ideaspring Capital, with participation from other investors, including Java Capital, Coimbatore Innovation and Business Incubator (Forge Innovation & Ventures), and a group of angels from Rockfort Ventures.

Founded by Parithi Govindaraju in 2019, Okulo Aerospace designs and develops long-endurance unmanned aerial vehicles, which are based on its proprietary solar-electric propulsion technology and design for enterprise and defense customers.

The drone tech startup uses a special aircraft that can fly for a long time without a pilot. These aircraft have high-quality sensors and use artificial intelligence to analyze the data they collect.

Notably, It has also won a big award from the Defense Innovation Organisation, Ministry of Defense. The award called the Innovation for Defense Excellence (iDEX) challenge, recognizes great new ideas.

Okula Aerospace claims to have a record of flying its aircraft for over six hours, which is the longest flight time for this type of aircraft.

Naganand Doraswamy, Managing Partner and Founder of Ideaspring Capital, said, “What sets Okulo Aerospace apart is the long-endurance aspect of their drones, which they have achieved through their proprietary solar-electric propulsion technology and design. With a flight time of over six hours, their UAVs collect more data, providing an unparalleled advantage in sectors that require persistent monitoring, such as Oil & Gas and Ports. Additionally, they are focusing on the defence sector, offering drones specifically designed for long-distance surveillance.”

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