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Drone tech startup IG Drones raises $1 million in funding

Economic Times

Economic Times · 9m ago

Drone tech startup IG Drones raises $1 million in funding

- Drone technology startup IG Drones raises $1 million in funding led by India Accelerator, with participation from angel investors. - The funding will primarily be allocated for research and development (R&D) to develop drone solutions for defense applications. - IG Drones plans to raise an additional $3 million within the next six months for expanding operations in India and globally. - The startup has partnerships with the Indian Army, state governments, and over 100 large enterprises, offering services like surveying, mapping, and inspection. - IG Drones has developed India's first 5G drone and currently operates in five countries. - India's drone market is projected to grow to around Rs 2.5 trillion by 2030, from Rs 29 billion in 2020.

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IG Drones eyes aggressive defence foray

Livemint

Livemint · 1y ago

IG Drones eyes aggressive defence foray

Drone technology company IG Drones is planning aggressive expansion in the drone manufacturing sector, with a focus on defence. The company is setting up a large-scale manufacturing plant in Vadodara, Gujarat, and aims to produce approximately 1,000 drones per year. The facility is expected to be launched in June and will initially operate at 30% capacity. IG Drones also intends to allocate 50% of its defence drone capacity for exports, with strong demand coming from Indian forces and Middle Eastern countries. The company is looking to raise around $5 million to support its technological advancements, including developing 6G drones.

IG Drones secures India’s first patent for defence drone simulator, fulfilling PM Modi’s vision of Aatmanirbhar Bharat

Economic Times

Economic Times · 14d ago

IG Drones secures India’s first patent for defence drone simulator, fulfilling PM Modi’s vision of Aatmanirbhar Bharat

IG Drones secured India's first patent for a defence drone simulator, marking a significant step towards technological self-reliance in line with PM Modi's Aatmanirbhar Bharat vision. Previously revealed at Defence Expo 2022, this indigenous simulator offers realistic training for armed forces across various high-risk scenarios. It eliminates the need for foreign systems, underscoring India's capability to produce world-class defence solutions. This achievement positions IG Drones as a pioneer in Bharatiya defence technology.

Startup news and updates: Daily roundup (October 1, 2024)

YourStory

YourStory · 9m ago

Startup news and updates: Daily roundup (October 1, 2024)

- Deeptech accelerator SanchiConnect raises undisclosed amount of funding from Baring Private Equity Partners-India, Seafund, and 8X Ventures. - IG Drones secures $1M funding led by India Accelerator and Angel Investors for research and development of drone solutions tailored for defence applications. - FNP (Ferns N Petals) appoints Gaurav Sharma as its new Chief Technology Officer (CTO) to drive innovation and improve digital experiences. - SanchiConnect expands its software offerings to Indian startups with the recently raised capital. - IG Drones plans to raise an additional $3M over the next six months to expand its operations in India and globally. - Gaurav Sharma, the newly appointed CTO of FNP, has over two decades of distinguished experience in the technology sector.

Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others

Economic Times

Economic Times · 1m ago

Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others

Drone startup Garuda Aerospace raised $1 million in funding from Narotam Sekhsaria Family Office and WFC. The funds will enhance manufacturing capacity, expand R&D, and boost export presence globally. Founded in 2015, the Chennai-based company manufactures over 30 types of drones, operates in 84 cities, and serves 750 clients, including major corporations. With $21 million raised to date, Garuda plans to increase its global footprint and diversify revenue beyond its primary agriculture sector.

Defense tech startup Zebu raises $1 Mn in pre-Series A round

Entrackr

Entrackr · 2m ago

Defense tech startup Zebu raises $1 Mn in pre-Series A round

Defense-tech startup Zebu has raised $1 million in a pre-Series A financing round led by Bluehill VC. The proceeds will be used to accelerate four of its mission-critical drones from prototype to battlefield deployment, supporting India’s defense modernization and strengthening indigenous military capabilities, Zebu said in a press release. Launched in 2021 by Santosh Balajee Banisetty, Zebu is a defense-tech startup that develops mission-ready counter-drone systems for armed forces globally. The startup has introduced four products for the Indian armed forces, including a hostile drone-neutralizing IAF Net Drone with a six-cartridge system, a sea-surface combat and rescue drone for the Indian Coast Guard, a swarm-enabled offensive combat drone for the IAF, and a tethered surveillance drone for Army border patrols. According to market research, the global counter-drone market is expected to reach $11 billion by 2030. The Hyderabad-based company stated that the IAF Net Capture Drone—a sky sentinel capable of trapping hostile drones mid-air like a futuristic spiderweb—has evolved from a skeletal model to radar integration over the last six months and is now approaching military-grade certification milestones. It is also in advanced talks with a top defense manufacturer to supply its drones. Zebu is building an Anti-Drone Swarm System for the Air Force, featuring rapid-fire pneumatic launchers and set for operational readiness by late 2025. It is designed to overwhelm enemy drones with coordinated strikes. The Army’s 24x7 “Eye in the Sky,” the Tethered Surveillance Drone, could see mass deployment by mid-2025, offering uninterrupted border monitoring and already approved by multiple regiments. Beyond government contracts, Zebu is expanding into commercial markets by adapting its military-grade technology for enterprise use. It claims that its proprietary Ground Control Station (GCS) is attracting strong interest from private OEMs across India, the U.S., and Southeast Asia.

Drone startup UrbanMatrix Technologies raises Rs 6 crore in funding

Economic Times

Economic Times · 1y ago

Drone startup UrbanMatrix Technologies raises Rs 6 crore in funding

UrbanMatrix Technologies, a drone tech startup, has raised Rs 6 crore in a pre-series A funding round led by Inflection Point Ventures. The funds will be utilized for product development, team expansion, and entering new markets. UrbanMatrix specializes in developing industrial drones and software for various applications, including survey, surveillance, agriculture, AI-aided inspection, and defense. The company aims to address the challenge of scaling drone operations through cutting-edge cloud technology. The drone industry has seen increased investments as demand rises from multiple sectors.

MS Dhoni Tops Up Bet On Drone Startup Garuda Aerospace

Inc42 · 9m ago

MS Dhoni Tops Up Bet On Drone Startup Garuda Aerospace

- MS Dhoni has invested in Chennai-based drone startup Garuda Aerospace - Dhoni is the brand ambassador for Garuda Aerospace - Garuda Aerospace has a vision to make India a global drone hub by 2030 - The startup secured $22 million in Series A funding recently - Garuda Aerospace aims to sell 25,000 drones in the next 18 months - The company plans to export 10,000 drones to about 100 countries

AICTE ties up with IG Drones to set up drone centres of excellence in 50 engineering colleges

Economic Times

Economic Times · 2m ago

AICTE ties up with IG Drones to set up drone centres of excellence in 50 engineering colleges

The All India Council for Technical Education (AICTE) has partnered with IG Drones to establish drone Centres of Excellence in 50 Indian engineering colleges. This initiative aims to provide cutting-edge training in drone technology, aligning with India's 'Viksit Bharat' and 'Aatmanirbhar Bharat' visions. These centres will equip over 10,000 students with industry-relevant skills, fostering innovation, entrepreneurship, and indigenous development in sectors like agriculture, defence, and urban planning, ultimately creating a skilled workforce in emerging technologies.

Marut Drones Bags $6.2 Mn From Lok Capital

Inc42 · 8m ago

Marut Drones Bags $6.2 Mn From Lok Capital

Marut Drones, a Hyderabad-based startup founded in 2019, has recently secured funding to support tech-enabled food and agriculture business models. The startup also has plans to establish drone agriculture service hubs to offer Drone-as-a-Service, working in collaboration with partners. The company was founded by three IIT alumni - Prem Kumar Vislawath, Sai Kumar, and Suraj Peddi - with the aim of developing drone-based solutions for agri-intelligence and agri-automation.

Dronetech startup Urban Matrix raises Rs 6Cr in pre-Series A round led by Inflection Point Ventures

IndianStartupNews

IndianStartupNews · 1y ago

Dronetech startup Urban Matrix raises Rs 6Cr in pre-Series A round led by Inflection Point Ventures

UrbanMatrix Technologies, an Indian drone tech startup, has secured Rs 6 crore in a Pre-series A funding round led by Inflection Point Ventures. The funds will be used for product development, team expansion, and entering new markets. UrbanMatrix develops industrial drones and software for various applications like survey, agriculture, and defense. It offers advanced encryption and cloud integration for data safety. The startup has partnerships with ISRO and holds certifications from DGCA. The drone industry is expected to grow exponentially, with a market size projected to reach $180 billion by 2030.

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