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Drone tech startup IG Drones raises $1 million in funding

Economic TimesEconomic Times · 28d
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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