Dronetech Startup Raphe mPhibr Secures $100 Mn

Noida-based drone startup Raphe mPhibr has raised $100 Mn (around INR 857 Cr) in a funding round led by General Catalyst, marking the largest private capital raise in the country’s aerospace manufacturing sector to date. 

The round also saw participation from Think Investments, angel investor Amal Parikh and a host of family offices. The round valued the startup at $900 Mn, as per a report by ET. Prior to the mega funding round, the startup had raised $45 Mn in funding.

“This funding is more than capital. It is a commitment; one we’ve upheld for nearly a decade now,” Raphe mPhibr said in a LinkedIn post. 

The startup plans to use the fresh capital in innovation and build solutions in India “for those who protect it, and beyond.” 

Founded in 2017 by Vikash Mishra, Vivek Mishra and Nitin Katiyar, Raphe mPhibr is an aerospace startup designing and manufacturing comprehensive and customised UAV (Unmanned Aerial Vehicle) solutions. 

It has tested its UAVs across terrains and weather conditions that have traveled more than 1 Mn Km across India since 2017.

The startup claims to have manufactured close to 1900 UAVs and 25 projects are going on as of now. 

As per a TechCrunch report, this is Raphe mPhibr’s Series B funding round and the fundraise will help it boost its R&D and local production capabilities.

Inc42 has reached out to the company to confirm details on the funding round. The copy will be updated on receiving the responses. 

The startup currently offers nine different drones with payloads ranging from 4.4 pounds to 441 pounds, covering an average distance of between 12 and 124 miles, the report said. 

These drones include the mR10 operational drone swarm, the mR20 for high-altitude logistics resupply, the X8 compact platform for maritime patrol and situational awareness at sea, and the Bharat lightweight man-carried drone for quick surveillance in complex terrain, it added. 

Raphe mPhibr has about 10 customers from Indian government agencies including the Indian Army, Navy, and Air Force. Its customers also belong to armed police forces such as the Border Security Force, Central Reserve Police Force, and the Indo-Tibetan Border Police.

The startup produces its flight controllers, batteries, and all components to build drone structures, including subtractive metals, thermoplastics, carbon fiber composites, and even wire harnesses domestically, the report noted.

It also develops proprietary autopilots and inertial navigation systems at its facility but it imports radars and high-end cameras. 

Raphe mPhibr plans to manufacture radar and these cameras in-house within 18 months, it told TechCrunch. 

It must be noted that the Ministry of Civil Aviation (MoCA) in 2022 released a provisional list of beneficiaries under the PLI scheme for manufacturing drones and drone components in the country.

Raphe mPhibr was one of the dronetech startups that made it to the list among five drone manufacturers and nine drone component manufacturers. 

India’s Booming Dronetech Sector 

The development came at a time when India is focussing on strengthening its defence capabilities to have an edge over its counterparts. 

Doors that were once heavily restricted technology have become a segment where startups are driving innovation and meeting both domestic and global demand.

Notably, the Indian drone market is expected to reach $13 Bn in size by 2030, growing at a CAGR of 21% between 2022 and 2030 as per Inc42’s Indian Drone Tech Startup Landscape & Market Opportunity Report 2024. 

It counts players like Marut Drones, IG Drones, Asteria Aerospace, Aero360, Redwing, General Aeronautics, The ePlane Co, Airbound among others. Other than these, IdeaForge and Droneacharya are the listed dronetech startups. 

Earlier this week, ideaForge bagged an order from the defence ministry leading to a surge in its stock price. As per its exchange filing, the company secured an order worth around INR 137 Cr (all inclusive) to supply mini UAVs with accessories to the defence ministry.

Editor’s note: The story has been updated to include the startup’s valuation.