Vipul Singh aims to revolutionize $10bn industry for global footprint
aereo.io ,India’s leading drone-based business intelligence provider, says the US$15 million from Series B funding round led by 360 ONE Asset 360.one as well as participation from long-standing investors startupxseed and navamcapital , is to expand aerial intelligence solutions for capital asset management.
“This funding milestone enables us to expand our aerial intelligence solutions for capital asset management,” said Vipul Singh, co-founder and CEO of Aereo, founded in 2013 at IIT Kanpur iitk .
“With our proprietary drone tech and 360 ONE Asset’s partnership, we aim to revolutionize this US$10 billion industry and create a global footprint droneworld ,” he said in a release on 19 July 2024.
Aereo delivers business intelligence solutions to help manage large capital assets using proprietary drones and an AI-powered data analytics platform. Their sector-specific solutions cater to mining, infrastructure, urban and rural development, land records, and other industries translating into a 400% revenue growth in the last 2 years and market dominance droneinternationalexpo .
Suhas Banshiwala, co-founder and CTO of Aereo, elaborated, “Our vision is to continuously innovate drone manufacturing and data analytics for the greater good. We are excited about the confidence our customers and shareholders have shown and are gearing up for an orbital shift nse .”
Aereo has been recognized by the Asian Infrastructure Investment Bank aiib as one of the top three infra-tech organizations. As a technology partner for Coal India Limited’s Digicoal initiative coalindia , Aereo provides critical business intelligence for some of the world’s largest coal mines for improving productivity, efficiency, safety, and environmental compliance worldcoal . It has also been empanelled with tatasteel since 2019, aiding the digitalisation of over 27 critical mines and stockyards bse .
Over the past three years, Aereo has achieved significant milestones, including mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 sq. km of land area for the Digital India Land Record Modernization Program (DILRMP) digitalasiahub .
The Series B investment serves as a powerful catalyst for Aereo’s growth, with a key focus on automation. Their AI-powered drone data analytics platform is set to revolutionise automation and digitisation. With strategic partnerships, R&D, and new product development, Aereo is ready to lead the global drone solutions sector.
Karan Ahuja, Fund Manager at 360 ONE, remarked, “We’re thrilled with the momentum in the commercial drone tech sector in India. Our partnership with Aereo reflects our belief in their cutting-edge innovations, and we’re excited for their solutions to go global.”
Ravi Thakur, Co-Founding Partner at StartupXseed, added, “Aereo has been a trailblazer from the start, delivering exceptional solutions and building the drone ecosystem. We’re excited to support them in their next major growth phase.”
Founded in 2013 at IIT Kanpur, Aereo (formerly Aarav Unmanned Systems) is serving industries such as mining, infrastructure, urban and rural development, land records, and more. Aereo is backed by notable early-stage deep tech investors like Auxano Capital auxano , KARSEMVEN, 3one4 Capital, GrowX Ventures, 500 Startups, and Ashok Atluri (MD of zentechnologies). Fiinews.com
