Aereo, a firm providing commercial drone solutions, has secured $15 million in a Series B financing round headed by 360 ONE Asset. Navam Capital and StartupXseed Ventures, two of its current investors, also took part in the round.
Prior to this, the business raised $6.44 million from GrowX Ventures, Startupxseed Ventures, Anicut Capital, and other investors at a post-money valuation of $25.5 million.
According to a news release from Company, the additional funding will be utilised to develop its aerial intelligence solutions for capital asset management.
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Aereo, a B2B company that was co-founded in 2013 by Vipul Singh and Suhas Banshiwala, operates in the high tech, aerospace, maritime, and defence tech industries.
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Aereo claims that it has collaborated with Coal India Limited on the Digicoal project and that it offers vital business intelligence to some of the biggest coal mines in the world in order to increase efficiency. Additionally, it has been working with Tata Steel since 2019 to support the digitalization of around 27 important stockyards and mines.
The Bengaluru-based company says it has covered more than 50,000 sq. km of land under the Digital India Land Record Modernization Programme (DILRMP) and mapped more than 45,000 villages under the SVAMITVA initiative.
About Aereo
Aereo pioneered India’s comprehensive drone solutions. Formerly Aarav Unmanned Systems, Vipul Singh and Suhas Bansiwala developed Aereo in 2013 in IIT Kanpur’s research labs. They envisioned pioneering drone services and solutions for industries at a time when drone technology’s commercial potential was untapped.
