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Drone tech startup IG Drones raises $1 million in funding led by India Accelerator, angels

IndianStartupNewsIndianStartupNews · 10m ago
Drone tech startup IG Drones raises $1 million in funding led by India Accelerator, angels
Medial

- IG Drones, a drone tech startup, has raised $1 million in funding led by India Accelerator and angel investors. - The company plans to raise an additional $3 million in the next six months to expand operations in India and globally. - Founded in 2018 by Bodhisattwa Sanghapriya and Om Prakash, IG Drones offers drone-based services for mapping, inspection, and surveying. - The startup has completed over 500 projects with collaborations including the Indian Army and state governments. - The funding will be used for research and development (R&D) efforts, specifically focusing on developing state-of-the-art drone solutions for defense applications. - IG Drones has developed an AI-powered Jaga drone, India's first 5G drone, and a simulator, IG Military Simulator.

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Drone tech startup IG Drones raises $1 million in funding

Economic TimesEconomic Times · 10m ago
Drone tech startup IG Drones raises $1 million in funding
Medial

- 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.

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

YourStoryYourStory · 10m ago
Startup news and updates: Daily roundup (October 1, 2024)
Medial

- 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.

Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round

EntrackrEntrackr · 20d ago
Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round
Medial

Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round The proceeds will be channeled towards scaling existing products and building new indigenous defence technologies, Ammunic Systems said in a press release. Defence tech startup Ammunic Systems has raised $1.1 million in a seed funding round co-led by India Accelerator and its multistage VC arm Finvolve. The proceeds will be channeled towards scaling existing products and building new indigenous defence technologies, Ammunic Systems said in a press release. Launched in September 2024, Ammunic Systems is a defence R&D firm focused on the design and development of weapon systems with core competence in advanced electronic fuzes, warheads, and munition integration technologies. The startup aspires to become a next-generation defence and aerospace innovator. The Bengaluru-based startup aims to empower defense with precision and safety and to pioneer tomorrow's warheads for global security. It is committed to providing services that exceed client expectations and help them achieve their business goals. It focuses on research, design, development, and production of new generation weapon systems for current and future warfare. Priyanka Singhal, founder of Ammunic Systems, said, “This investment from India Accelerator is not just capital; it is a vote of confidence in a mission we have poured our hearts into. At Ammunic Systems, we are not just building defence technologies; we are building belief — that India can lead from the front in securing its own future." India Accelerator and Finvolve boast a strong portfolio of defence tech companies including IG Drones, Indrajaal, Zulu Defence, and others.

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

EntrackrEntrackr · 3m ago
Defense tech startup Zebu raises $1 Mn in pre-Series A round
Medial

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.

Dronetech startup TechEagle raises bridge round

EntrackrEntrackr · 1y ago
Dronetech startup TechEagle raises bridge round
Medial

On-demand drone delivery and logistics firm TechEagle has raised funds from Paytm founder Vijay Shekhar Sharma, Navam Capital and Inflection Point Ventures (IPV) in its bridge round. Earlier to this round, TechEagle raised $500K in its seed funding round led by India Accelerator in 2021. The bridge round, which is undisclosed, also saw participation from Venture Catalysts and a group of high-net-worth individuals. The proceeds will be used to fuel the company’s efforts to launch higher payload drones for mid-mile and inter-city deliveries, the company said in a press release. Founded in 2017 by Vikaram Singh Meena and Anshu Abhishek, TechEagle is a drone logistics startup that enables on-demand autonomous drone delivery for its clients. With a focus on beyond visual line of sight (BVLOS) drone operations, TechEagle caters to last-mile logistics in urban and semi-urban areas.

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