SUMMARY
EndureAir Systems raised INR 13.5 Cr in the seed funding round led by Asian Paints co-promoter Jalaj Dani
The new funds will also be used to ramp up innovation and meet the demand for heavier payload capacity drones
EndureAir offers customised unmanned aircraft systems that can be deployed for functions such as border surveillance, logistics and aerial mapping
Drone startup EndureAir Systems has raised INR 13.5 Cr as part of its seed funding round led by Asian Paints co-promoter Jalaj Dani. The round also saw participation from the founders of robotics startup Addverb Technologies.
The fresh funds will be deployed to ramp up its expansion plans and scale up manufacturing. The funding will also be used to ramp up innovation and meet the demand for heavier payload capacity drones.
“This funding round will give an impetus to EndureAir’s momentum by scaling up its operations and innovating further by pushing the capabilities of the current designs,” EndureAir chief executive officer (CEO) and cofounder Rama Krishna said.
The IIT-Kanpur incubated startup was founded by professors Abhishek and Mangal Kothari, along with students Krishna and Chirag Jain in 2019. The startup offers customised unmanned aircraft solutions that can be deployed for functions such as border surveillance, logistics, aerial mapping, among others.
The startup claims to have delivered more than 10 products and has 5 patents in the domain of vertical takeoff and landing technology. It also has filed more than 50 technical papers in various journals.
The Noida-based startup has so far collaborated with government agencies such as Defence Research and Development Organisation (DRDO), National Disaster Response Force (NDRF), Uttar Pradesh Police, Hindustan Aeronautics Limited (HAL), among others.
EndureAir counts companies such as Mitsubishi Heavy Industries, Zen Technologies, and Delhivery among its clients.
The funding announcement comes nearly a fortnight after EndureAir’s name featured in the second provisional list of beneficiaries under the production linked incentive (PLI) scheme for drone and drone components.
Currently, 180 drone startups are operational in the country. They have collectively raised as much as $27 Mn over the years.
A 2021 Inc42 report had found that a drone startup needed to apply for more than half-a-dozen permits for security, insurance and landowner’s permission for operations.
However, the government has since then taken a few steps to spur the startups in the sector. Earlier this year, the government banned the import of drones, except for research and development, defence and security purposes.
Apart from that, a slew of reforms including liberalised Drone Rules, 2021, publishing of Drone Airspace Map 2021 as well as UAS Traffic Management policy have cut through some of the bureaucratic clutter.
The last few months have seen big-ticket fundraises by Indian drone startups. In April, ideaForge raised $20 Mn in Series B funding round, while another Chennai-based startup Garuda Aerospace is looking at closing a $30 Mn capital round later this year.
In May, RattanIndia Enterprises acquired a 60% stake in Bengaluru-based drone manufacturing startup Throttle Aerospace. In January, IIT-Madras incubated startup The ePlane Company raised $5 Mn in a pre-Series A funding round led by Speciale Invest and Micelio.
