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Aereo raises $1.8 Mn more in Series B

EntrackrEntrackr · 10m ago
Aereo raises $1.8 Mn more in Series B
Medial

Aerial intelligence platform Aereo has picked up $1.8 million as part of its Series B funding round led by JSW Ventures. Aereo had previously secured $15 million in the same funding round led by 360 ONE Asset along with participation from its existing investors StartupXseed Ventures and Navam Capital in July this year. The fresh funds will be utilized to strengthen its position in providing innovative commercial drone solutions and accelerating its growth into international markets, Aereo said in a press release. Co-founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo leverages advanced drone technology and AI-driven data analytics to enhance asset management in sectors such as mining, infrastructure, urban and rural development, and land records. The company’s comprehensive offerings include inventory assessments, quality inspections, and land record digitization. The Bengaluru-based company claims to have executed large-scale government projects, mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 square kilometers for the Digital India Land Record Modernization Program (DILRMP). It also claims to have achieved profitability at the EBITDA level. Aereo focuses on intellectual property, with 15 patents filed that cover advancements in drone hardware, design, and predictive flight planning technologies. It may directly or indirectly compete with the other companies in this space such as Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems and others.

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Drone startup Aereo raises $15 Mn in Series B

EntrackrEntrackr · 1y ago
Drone startup Aereo raises $15 Mn in Series B
Medial

Commercial drone solutions startup Aereo has secured $15 million in a Series B funding round led by 360 ONE Asset. The round also witnessed participation from its existing investors StartupXseed Ventures and Navam Capital. The company had previously raised $6.44 million at post money valuation of $25.5 million from GrowX Ventures, Startupxseed Ventures, Anicut Capital and others. The fresh funds will be used to expand its aerial intelligence solutions for capital asset management, Aereo said in a press release. Co-founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo serves in the B2B space in the high tech, aerospace, maritime and defense tech market segments. According to Aereo, it has been a partner for Coal India Limited’s Digicoal initiative, and provides critical business intelligence for some of the world’s largest coal mines for improving productivity. It has also been collaborating with Tata Steel since 2019, aiding the digitalisation of over 27 critical mines and stockyards. The Bengaluru-based company claims that it has mapped over 45,000 villages under the SVAMITVA scheme and covered more than 50,000 sq. km of land area for the Digital India Land Record Modernization Program (DILRMP). The other notable players in this space are Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems and others.

ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia

EntrackrEntrackr · 7m ago
ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia
Medial

ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia Healthtech startup ErlySign has raised Rs 16 crore ($1.8 million) in its pre-Series A round from Ashish Kacholia. The proceeds will be used in clinical trials, securing CDSCO (Central Drugs Standard Control Organisation) approvals, and bringing ErlySign’s oral cancer detection kit to market. Founded in 2019 by Shubhendra Singh Thakur and Deovrat Begde, ErlySign develops solutions for early detection of oral cancer. The startup also claims to offer India’s first salivary biomarker-based test which can identify pre-cancerous conditions much before visible symptoms emerge. Looking ahead, ErlySign plans to use CRISPR miRNA-based testing technology to detect multiple types of cancer using the same saliva sample within 15–20 minutes.

Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr · 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zepto’s EV delivery partners to use Battery Smart’s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

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