Drone Tech Startup BonV Aero Bags Funding From Unicorn India

Drone Tech Startup BonV Aero Bags Funding From Unicorn India

SUMMARY

Drone tech startup BonV Aero has raised INR 10 Cr in its extended pre-Series A round from Unicorn Indian Ventures

The startup plans to use the fresh capital to scale its research and development efforts and expand the payload capabilities of its aerial mobility products

Founded in 2021 by Satyabrata Satapathy, Abinash Sahoo, Rahul Kumar, Gaurav Achha and Sultan Alam, BonV Aero designs aerial mobility platforms and offers logistics drone solutions for carrying heavy payloads. It counts the Indian Army as its client

Drone tech startup BonV Aero has raised INR 10 Cr in its extended pre-Series A round from Unicorn Indian Ventures. 

This comes almost six months after the Odisha-based startup raised funding from notable venture capitalist Tim Draper in its pre-Series A round.

The startup plans to use the fresh capital to scale its research and development efforts and expand the payload capabilities of its aerial mobility products. “This funding will help advance our research in autonomous drone technologies for defence, logistics, and emergency response.” said Satyabrata Satpathy, founder and CEO of BonV Aero.

Founded in 2021 by Satapathy, Abinash Sahoo, Rahul Kumar, Gaurav Achha and Sultan Alam, BonV Aero manufactures electric vertical take-off and landing (eVTOL) aircraft to enhance aerial mobility for logistics purposes. 

The startup claims that its logistic drones can carry a load of 35 kg and can fly at a high altitude of 13,800 ft. The startup’s air mobility vehicles come with a range of 5 km and also have a self-flying capability, eliminating the need of a certified copilot. Its eVTOL aircraft are also used by the Indian Army for high-altitude logistic needs.  

The startup also offers a range of pods which can be mounted on its air mobility vehicles for various use cases such as carrying supplies, ammunition, and also for casualty evacuation scenarios. 

Cofounder and CEO Satapathy told Inc42 that BonV Aero is likely to raise an additional funding in the ongoing pre-Series A round to close it at INR 30 Cr.

Commenting on the funding, Bhasker Majumdar, founder and managing partner of Unicorn India Ventures, said, “We have three investments across diverse industries, all three from the deep tech sectors. We are committed to invest almost INR 80 Cr to INR 100 Cr in the Odisha state in the next couple of years.”

The funding comes at a time when the Centre is also looking at supporting the growth of innovative air mobility solutions. Last week, civil aviation secretary Vumlunmang Vualnam said that the ministry is exploring setting up a regulatory sandbox for fostering advanced electric air mobility solutions in India. 

In fact, the government officials are already on the look out for potential field sites which can be used for trials and other activities related to advanced air mobility testing.

The advanced air mobility market in India is expected to become a $4.1 Bn opportunity by 2035, growing at a CAGR of 27.8% in the next 10 years.