The Series B funding round was led by 360 ONE Asset, along with participation from StartupXseed Ventures and Navam Capital
According to the company, the fresh investment will help in Aereo's growth, with a key focus on automation
Founded in 2013 by Singh and Banshiwala, AUS (now Aereo) develops commercial-grade drones and provides drone-based solutions for enterprise applications in mining, infrastructure, urban planning, irrigation, energy, and agriculture
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Bengaluru-based drone startup Aereo (formerly Aarav Unmanned Systems) has raised $15 Mn in its Series B funding round led by 360 ONE Asset, with participation from StartupXseed Ventures and Navam Capital.
“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 revolutionise this $10 Bn industry and create a global footprint,” said Vipul Singh, cofounder and CEO of Aereo.
According to the company, the Series B investment will help in Aereo’s growth, with a key focus on automation. Its AI-powered drone data analytics platform aims to revolutionise automation and digitisation. With strategic partnerships, R&D, and new product development, Aereo aims to lead the global drone solutions sector.
Suhas Banshiwala, cofounder and CTO of Aereo, said, “We are excited about the confidence our customers and shareholders have shown and are gearing up for an orbital shift.”
Founded in 2013 by Singh and Banshiwala, AUS (now Aereo) develops commercial-grade drones and provides drone-based solutions for enterprise applications in mining, infrastructure, urban planning, irrigation, energy, and agriculture.
It offers business intelligence solutions to manage large capital assets using proprietary drones and an AI-powered data analytics platform. Its sector-specific solutions cater to industries such as mining, infrastructure, urban and rural development, and land records. As per the brand, this approach has resulted in a 400% revenue growth over the past two years and established market dominance.
Aereo has been recognised by the Asian Infrastructure Investment Bank (AIIB) as one of the top three infra-tech organisations. Additionally, since 2019, Aereo has been empanelled with Tata Steel, aiding in the digitalisation of over 27 critical mines and stockyards.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.